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Aptos : Real Estate Advice

  • All41
  • Local Info5
  • Home Buying13
  • Home Selling4
  • Market Conditions0

Activity 20
Thu May 30, 2013
Avacadovich answered:
Not as good as in the Bay Area. Many choose to home school.
John
0 votes 2 answers Share Flag
Mon Sep 10, 2012
Ruth Bates answered:
Hi - currently on Craigslist we see 2 bedroom rentals from $1300-$1900 and 3 bedroom rentals from $1950 to $3000. Last year the average 3 bedroom rental was $2800. So - it appears that rents have not really gone up significantly in Rio Del Mar/Aptos. BUT - there is not very much to rent!

AND - it's the best time ever to BUY. Prices are down, rates are lowest in over 60 years.
So consider buying now if you can.
... more
0 votes 1 answer Share Flag
Mon Jan 28, 2013
Bryan Myers answered:
Hi Deb again,

There are currently 19 residential properties other than raw land in Santa Cruz county on the MLS marked with "Seller May Carry 1st". Of these, there are 2 in San Lorenzo Valley, and 2 in Scotts Valley. The rest are scattered around the county.

If you'd like to discuss this more, I put in my direct line and email address below.

Bryan Myers
Unique Homes & Land
bryan@uhl.com
831-535-6859
... more
0 votes 5 answers Share Flag
Fri Oct 29, 2010
Molly Thompson answered:
Not per se- there is regular capital gains taxes, with associated holding times, if it's not your principle residence. Principle residences held for over 2 years is eligible for $250k/$500k for couple, tax exemption on gain. See tax expert for estate issues. ... more
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Sat Jun 19, 2010
Terry Ballantyne answered:
The law says tenants of foreclosed on properties with legitimate leases at arms length, (no relatives, friends associates, have 90 days to vacate. Check with your landlord and contact the bank to let them know you have a valid lease. DO NOT be passive. Communicate immediately with the lender who holds the note.
Terry Ballantyne
Sereno Group Real Estate
831 515 1101
... more
0 votes 3 answers Share Flag
Mon Jul 8, 2013
Terry Ballantyne answered:
The challenge is buying the land. Lenders want large down payments on the purchase of land in this market.
No less than 40% in most cases and that would be a good situation. If you fly over that hurdle, it depends where you buy and your risk tolerance. In Santa Cruz county the planning and zoning department can spell out the particulars for your specific parcel. If it is a remote parcel and your neighbors know it is temporary housing, you might find them agreeable to a trailer. However, if you are creating gray water issues, ( used water from showers, dishes etc.) or if you have no permit for septic or some other system for waste removal, this would be a serious violation.
Building in the middle of a residential developement within city limits would pose additional challenges.
Where is the parcel you are interested in?

Terry Ballantyne
Sereno Group Real Estate
831 515 1101
... more
0 votes 3 answers Share Flag
Mon Aug 27, 2012
Curt Abramson answered:
Just ask. The escrow process should be pretty transparent, and your escrow/title person should be able to show you the full cost and the discounted cost. When you will sign off your documents, all the costs are laid out for you on a settlement statement.
Congratulations on joining the ranks of homeowners!
... more
0 votes 4 answers Share Flag
Mon Nov 15, 2010
Curt Abramson answered:
Vprwill, Curt Abramson from Bailey Properties here. There are some loan products out there that will provide rehab financing. Under some conditions, they will provide purchase money as well as the funds needed to address the code violations and/or other repairs. As you can imagine, they are as concerned about risk as you. They will generally be very stringent in their requirements for down payment, your creditworthiness and ability to pay the mortgage. They will also want higher interest on their loan, of course.
Under no circumstances do you want to undertake repairs on property you don't yet own, nor will the current corporate owner allow that, I'd bet.
If you are working with a buyer's agent, they should be able to give you information about the rehab loan options or refer you to a trusted loan professional. If that's not the case, feel free to contact me about that help. My website, listed below, offers you contact information. Good luck to you!
... more
0 votes 8 answers Share Flag
Wed Aug 28, 2013
Michael Rayno answered:
Your best served by interviewing several Realtors and see what commission they are willing to accept.
Remember that you get what you pay for!
0 votes 46 answers Share Flag
Thu Feb 27, 2014
Glen Mitchell answered:
Tue Apr 27, 2010
Keith Manson- Metro Milwaukee Wisconsin answered:
Don't work about your minium bid, figure out what your maxium bid will be. It depends how many people are after the same property. The bank will take care of the minium bid to start the action. If your asking how low can I get it, then that is a differnt question and will depend on the investor. So investors instruct the bank to bid full debt, some a percenatage of full debt. From my experience it is tied to value and usually no less than 70% of value unless you get lucky. Lucky would be the bank just lets it go and there are no other bidders. Make sure when you bid there are no other liens outstanding or you may have a big supprise and have a house subject to many other liens and share ownership. It is best to get a expert to help you if you are buying a property at auction, because lots can go wrong! ... more
0 votes 5 answers Share Flag
Mon Sep 28, 2009
Ron answered:
Banks have all the time in the world. I am a real estate agent in st. augustine, fl. I deal with short sales all the time. The banks will take anywhere from 30 days to the longest I've had is 9 months. There is no law that says they have answer you at all. Sorry. Tha average time on a short sale is about 3 months. ... more
0 votes 2 answers Share Flag
Wed Nov 19, 2008
Glen Mitchell answered:
Holly, it really depends. Your realtor should be able to provide you with recent comps so you know what you are paying compared to recent sales. Hopefully its a decent amount under, but hopefully you are also getting a great home that you really like. If the bank has the prie too low, then they will get multiple offers. This seems to happen quite a bit these days, so the question may be how much over should I pay. Once again you really need to know what the comps are selling for to know how to proceed. This is a great reason why hiring a buyers broker makes such good sense. If you aren't working with an agent check in with me as I would love to help you out.

Glen Mitchell
831-588-8958
... more
0 votes 8 answers Share Flag
Tue Oct 7, 2008
Cameron Piper answered:
Pete,

I think we will need some more context to answer your question. Where did you read this and how was it used?

Cameron Piper
0 votes 3 answers Share Flag
Mon Dec 28, 2009
Terry Ballantyne answered:
Hi there!
Are you asking about transportation from Aptos to Santa Cruz? Well, the bus lines
are pretty effective. There are stops at Dolphin and Sumner, Freedom near the
freeway, one near the frontage road at Rio Del Mar, and more! Lots of folks
use a bike to go from school to home. No light rail here yet! But there are rumors
of a bike/hike path. Hope that helps!
... more
0 votes 3 answers Share Flag
Mon Feb 25, 2013
Erica Pittman-Gaynor answered:
Hi Carol-
This is Erica Pittman-Gaynor with Keller Williams Santa Cruz. Prices are continuing to decline. With more and more foreclosures and short sales coming on everyday, it is driving prices down. There is a lot of inventory as well. Predictions are that the market will continue to decline through this year and even through next year before it starts to rise. We are really only in the middle of the downward slide. Because of this, if you are a seller and you cannot hold onto your home for the next 4-6 years, you really need to sell ASAP. In 6-12 months your house may be worth significantly less than it is now. We are also seeing many overpriced houses which causes them to sit on the market and lose even more value every day they sit. This is why it is extremely important to work with an agent who has a strategic marketing plan that will get your house sold in the quickest amount of time for the most this market will bring. Call or email me to discuss my marketing plan and/or to answer any further questions. Hope this helps. Have a great day:)
Erica Pittman-Gaynor
phone: 831 818-4123
email: Erica@EricaPittman.com
website: SantaCruzRealEstateByTheBay.com
... more
0 votes 5 answers Share Flag
Fri Aug 14, 2009
Curt Abramson answered:
Carol, Curt Abramson with Bailey Properties here. I live in Aptos and sell a fair amount in zip code 95003. As of May 2008, average days on market for single family homes in this zip code was 89; the month before, it was 68, and for each of the 4 months prior, it was more than 100: a low of 102 and a high of 126.

If your interest is in selling as quickly as possible for as much as possible, pricing and preparation of the home are the key issues to consider. If you would like more detail about how to address those concerns, feel free to contact me at my website. listed below.
... more
0 votes 5 answers Share Flag
Fri Aug 14, 2009
Curt Abramson answered:
Whether to rent or sell depends on your long term plans. Although prices have been flat to down in the area, there is still high demand for nice homes, especially in the RDM Elementary district. We've seen some surprisingly fast sales, even multiple offers, when homes are priced right. At the same time, prices in SoCal are way down, so this might be your best opportunity to buy up or retain some cash from your sale here.

Rental ranges can vary so much depending on amenities, views, location, etc. No one can give you a realistic estimate of rental or sale value without seeing the home. If you'd like me to view the home and offer my input, please contact me via my website, below. Good luck with your move!
... more
0 votes 11 answers Share Flag
Fri May 23, 2008
CJ Brasiel answered:
Ana -

Since there is a hardship (your husband's job loss), I would suggest talking with your lender asap and seeing what options you may have. If you have been paying the mortgage and not behind , you have a stronger case. Also contact the HOPE organization. It is a non-profit groups that help people to keep their homes or deal with the foreclosure process.

http://www.995hope.org/

CJ
... more
0 votes 8 answers Share Flag
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