March 15th, 2014 – As we hit the halfway point of March, a total of 8 sales have closed in Scotts Valley this month. Two glaring closings are 111 Bean Creek, #140 and 107 Silverwood Drive. Why? Consider this:
Bean Creek is a 2bd/1BATH that sold at a price that 2/2’s were selling for not too long ago. It was listed at $367k and sold for $375k in 5 days. It just closed yesterday.
But the steal of the year so far HAS TO BE 107 Silverwood Drive which closed yesterday at $810,000. WOW…
This is a million dollar neighborhood that was a short sale and REO (foreclosure) at the same time. It was in escrow for 155 days, and at the time that it went into contract it was already a good deal, now it is a crazy great deal for the buyers. The surrounding homeowners may not be too thrilled, but I do not see it affecting values too much as it was a short sale/REO and it did sell 5 months ago, even though it just closed yesterday.
To download a report of closings from March 1-15th in SV, go to: http://robertaldana.com/SVRealEstate/SVClosedSalesMarch1toMarch152014.pdf
The average list price for sold & closed single family homes is $808,100 and the average sales price is $805,400 which means sellers are getting 99.7% of asking price for their SF homes.
The average list price for sold & closed condos and townhouses is $391,667 and the average sales price is $417,633 which means they are getting on average 107% of asking price on average. Super caliente!
To download a report of Current ACTIVE and PENDING listings in SV, go to: http://robertaldana.com/SVRealEstate/SVActivePendings03152014.pdf
Robert Aldana is a 29+ year licensed real estate veteran with American Dream Realty in Scotts Valley, and also a long-term resident and homeowner here in town. He is the founder of MyScottsValley.com and the popular local news and events page at Facebook.com/MyScottsValley.
He was voted as the “Rave” winner in the category of “Favorite Real Estate Agent” in the Scotts Valley Press Banner’s contest for 2014, and also awarded the Scotts Valley Man of the Year in 2014 for his contributions to the community.
Robert was also a nationally syndicated real estate journalist and was a highly sought after interviewee on the topic of real estate by local, national and even international media, in addition to appearing on HGTV and local NBC’s “Best of the Bay”. Many of his articles and interviews can still be read at RobertAldana.com, DeadlineNews.com, RealtyTimes.com, Forbes.com, among many other real estate and finance news sites and publications.