Do homes near the ocean in Santa Cruz/Pleasure Point area increase in value faster than other homes in Santa?

Asked by Gayle, Santa Cruz, CA Mon Jan 14, 2008

cruz and by how much?

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Terry Ballan…, , 95003
Mon May 12, 2008
Hi! Terry Ballantyne Broker, Indigo Beach Properties here.
It's all about the big blue pond Gayle! He who is closest without falling in is the big winner. So yes,
ocean view, ocean peek, ocean sound, ocean walk, all get bonus points financially. Even in this
period of instability, the homes on the water sell fast and for better returns. What do you want to accomplish? 831 588 8485
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Sandi McGinn…, Agent, Capitola, CA
Fri Apr 25, 2008
Hi Gayle, Sandi McGinnis-Garcia, Realtor, David Lyng Real Estate. My family has lived in the area for 4 generations. Everyone wants a piece of the coast. If not for a primary residence then a second home. It's a basic supply and demand equation. Coastal homes will always hold their value better than any other. Will the value increase faster? That would depend on the homes surrounding it and the desirability of the specific home. I have not seen a better time to capture a piece of the coast like now if that is where you want to be. If you look forward 10 years from now sitting there in your beach pad with your 6.5%, 30 year fixed and your wetsuit dripping on the fence, warming up in your hot tub...............We have a great listing in that area. Give me a call today 831-818-8971
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Erica Pittma…, Agent, Santa Cruz, CA
Wed Apr 9, 2008
Hi Gayle-
Erica Pittman-Gaynor with Keller Williams here. Any homes in Santa Cruz Co. that are closer to the ocean definately have more value. I live off 26th Ave. in the Pleasure Point area. What we're seeing are so many tear downs and building of new custom homes. This only adds to the value of these neighborhoods. Pleasure Point is, afterall, a world famous surf spot. I went to Germany a few years ago and while sitting at Oktoberfest, sipping on a stein of lager, got to talking with a local man there. His dream was to come to California and surf at Pleasure Point. Although housing prices are expected to continue to drop for at least a year or two, five or more years from now a piece of Real Estate in Pleasure Point will be nothing but a good thing. Let me know if there's anything further I can tell you about the area. Hope this helps-
Have a great day!
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Barry Green, , Santa Cruz, CA
Fri Mar 14, 2008
Hello Gayle

Barry Green from American Dream Realty here...

Pleasure Pt is a very desirable area for surfers, as it is a world class surfing location. I lived there for many years before deciding to move to the hills in Aptos for a little more space for my family. We lived in a 2br/1ba on 32nd Ave, one block from the Point, that sold in 1997 for $270k. We sold in 2004 for $750k, and today that same 900 square foot home is probably worth closer to $695.

People are tearing down the old homes and building up. It is an unincorporated part of Santa Cruz, which falls under the jurisdiction of Santa Cruz County. Improvements to stabilize the cliffs and create a more formal bike/walk path along East Cliff Dr. are in the works.

Last October, I helped a family from San Francisco buy a $1.3 mil home in the Opal Cliffs neighborhood, which is just the other side of 41st Avenue from Pleasure Pt proper. I would say that area is the most desirable neighborhood in Pleasure Pt, with access to Privates Beach and a quick walk to Capitola Village. Homes on the cliffs there sell in the $3-5mil range.

Pleasure Pt will always be a very attractive place for folks to want to live. It has character, is relatively quiet compared to west side beach neighborhoods, has world class surfing and is close to 41st Avenue's services and amenities. Other parts of Santa Cruz offer similar levels of attractiveness for certain people. Being near the water is never a bad thing in my opinion...

Are you buying for a primary residence or rental/investment?
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Infinity Rea…, , Saratoga, CA
Tue Jan 15, 2008
Homes Near Water always tend to hold there value and appreciate at a higher percentage most of the time. In Santa Cruz this is normally true, but there are always other variables and best bet is to really do your homework. The lack of constant quality listings, and demand when they do come up makes for a good appreciation level. If you need specific listings or statistics feel free to email me.

Good Luck
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