October 12th, 2013 – This past week remained relatively the same as last week in terms of real estate market activity with 2 new listings in the single family home sector bringing the total ACTIVE listing inventory to 54 and the same amount of pending sales, 30.
Condos and townhouses are still only 5 ACTIVE condos and townhouses.
Inventory in Hot Price Ranges Low
I have several buyers looking in the Scotts Valley area and I can tell you that the market under $600,000 for single-family homes is slim pickings with only 8 homes for sale in that price range.
Homes between $600-800,000 have 14 Active listings and homes between $800-1,000,000 have 16 Active single-family homes according to MLSListings, the MLS service for the area. Actives are homes that are for sale and available and have not yet accepted an offer.
If you are a homeowner with a property value under $800,000, who has thought about moving up into a bigger home, this is a pretty good time to do so as your market is very active and still getting top dollar, while higher end homes are a little softer with more negotiating room. This of course depends on the property and how well it is priced. But the general consensus is that this is a prime time for move-up buyers.
Rates & Loan Programs
Interest rates went up just a little bit but still remain very low at around 4.25% for a 30 year fixed rate loan.
There are also some great programs for home buyers right now that could grant you money for a down-payment and closing costs and you can buy with as little as .5% down.
Is it a Good Time to Buy or Sell?
The Holiday Season is coming and many buyers drop off from buying, but so do sellers who choose to take their home off the market. I will still give the edge slightly to buyers in this coming market, but not by much as the demand is still very high in areas like Scotts Valley.
I recently made a couple of 10 minutes videos for home sellers and homebuyers that I think you should watch.
The home seller video outlines the top clauses that you should have in your contract when you sell your home. These are MUST HAVE clauses that many agents do not implement and it ends up coming back to bite them and their sellers. Watch the following video:
The homebuyer video is a video that outlines the major reasons why buyers don’t get their offers accepted. Time and time again, when I represent home sellers, I see agents and their buyers make the mistakes in this video. Watch the following video:
That’s your Scotts Valley Weekly Housing Market Report!
If you are thinking of buying or selling a home, please think of me. I have been licensed since 1986 and I have helped hundreds, if not thousands of families buy and sell their home. I am local and am always a phone call or email away, and I am always at your service.
REALTOR® since 1986
BRE # 00921165
4788 Scotts Valley Road
Scotts Valley, CA. 95066
800-882-7896 ext. 800
Robert Aldana is a long-term resident and homeowner in Scotts Valley, is the founder of myScottsValley.com and a licensed [email protected] with Bailey Properties in Scotts Valley.
Robert is also a nationally syndicated real estate journalist and his articles and interviews can be read atRobertAldana.com, DeadlineNews.com, RealtyTimes.com, Forbes.com, and many other real estate and finance news sites and publications. For more information and links to his articles including his appearances on HGTV and NBC, visit RobertAldana.com