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Brandi Jones' Blog

By Brandi Jones | Agent in 95010

Market Snap Shot in Santa Cruz County- Best Deals are over $2 million

WOW- the Best Deals are over $2 Million Dollars

Here is a View of the Santa Cruz County Housing Market:
1% of of the homes over $2 million are pending- 20% of the homes between $1 million and $2 million are pending-35% of the homes between $700k-$999K are pending- 65% of the homes between $400K-$699K are pending- AND 103% OF THE HOMES BELOW $399K are pending....hmmm where do you think the market it at in Santa Cruz County?
Let's look at the coastal cities such as Aptos, Capitola, and Santa Cruz:
Aptos is 42% Pending 
Capitola is 22% Pending
Santa Cruz is 53% Pending
So anyone looking for the slowest end of the market it is at the price range of over $1 million dollars.  
Well what about the average Joe who needs to sell their home that is not over $1 million?  Well the average Joe actually foreclosed or is short selling his home in the $399K and below price range.  80% of that pending market is a short sale or REO.  If Joe's house is worth $400-699K 54% of the pending market is distressed and if Joe is a Jones and his house is listed at $700-$900K ,34% is distressed.  At $1million - $2 million only 26% is a short sale or REO.  Finally, there are no distressed properties over $2million.
There is more competition in the lower price ranges which makes it harder for a buyer to get a good deal and GREAT for a seller to get the most amount of money.  The best deals to be made will be in the higher price ranges as there is very little competition.  
Now is the time to negotiate a home that could have been 3X-4X that amount years ago.  This the time to buy your BIG dream home!

Visit www.brandijones.com for homes listed on the market in the Santa Cruz Area.

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