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% PendingÂ
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. Â
Well what about the average Joe who needs to sell their home that is not over $1 million? Â Well the average Joe actually foreclosed or is short selling his home in the $399K and below price range. Â 80% of that pending market is a short sale or REO. Â 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. Â At $1million - $2 million only 26% is a short sale or REO. Â 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. Â The best deals to be made will be in the higher price ranges as there is very little competition. Â Now is the time to negotiate a home that could have been 3X-4X that amount years ago. Â This the time to buy your BIG dream home!
Â for homes listed on the market in the Santa Cruz Area.