What is the difference in a Condo and a Townhome/Townhouse 

Many times, the terms condominium and townhome/townhouse are coupled together in the Multiple Listing Service and other real estate search engines.  Why is that… because they are different, aren’t they?

Santa Cruz County and Monterey County Condominiums and Townhomes

YES! A condominium and a townhome/townhouse are different.

A condominium (condo) is part of a bigger complex. The owner of the condo owns inside the walls, from carpet to ceiling and shares a common wall/floor/ceiling with other condo units. PLUS the “common areas” (i.e. pools, halls, entry, etc.) are jointly owned with other condo owners.

A townhome/townhouse is essentially a home attached to other homes through a shared wall.  The owners owns the unit, including the lot (yard, deck). Typically, there will be a row of townhomes in a development.

With both the condo and the townhome, normally there are a type of Home Owners Associations (HOA). Owners will make a monthly payment to the HOA to maintain the grounds, building, etc. per the agreement.

PROS of buying a condo or townhome vs. renting an apartment

Condos/townhomes are typically less expensive than a single-family residence. Ownership vs. Renting allows for tax deductions, and building equity.

The HOA takes care of maintenance – allowing you to have a life outside of yard work. Usually, the condo/townhome will have certain amenities that most single-family residences do not – like tennis courts, gyms, pools.

Condo/townhome living is not for everyone. But for those who like the idea of “community,” a condo/townhome is something to consider.

Below are statistics regarding condominiums and townhomes in Santa Cruz County, Monterey County and surrounding areas.

If you are interested in buying or selling a condo/townhome, call me today.

Aptos Condo/Townhomes

Santa Cruz Condo/Townhomes

Rio Del Mar Condo/Townhomes

La Selva Beach Condo/Townhomes

Pajaro Condo/Townhomes

Watsonville Condo/Townhomes

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What can you afford? And why is getting pre-approved important?

WHAT CAN YOU AFFORD?

And Why is getting Pre-Approved Important?

Real Estate 101 in Santa Cruz and Monterey Counties

Pre-approval program

Many buyers are applying for a loan and obtaining approval before they find the home they wish to buy.

Benefits of pre-approval

 · You look at the “right” homes

· You save money dealing with a comfortable seller

· You close more quickly

· You minimize trauma of not knowing if you qualify

There are many different loans available.  Your loan officer is the best source to discuss the many different possible scenarios. 

When you visit with your lender, Ask for…

...a Good Faith Estimate which will include an approximate amount of money needed at closing in addition to an approximate payment amount. Note: Some lenders prefer not to give you a Good Faith Estimate due to strict regulations, however, if you are comparing loans from different lenders, you will need to compare "apples to apples" so make sure you get all the costs of the loan and the APR.

...a Pre-approval letter showing that you are a qualified buyer.  Note: Most real estate agents will have the lender do a customized Pre-approval letter with the amount that you are making the offer when you write a contract. As a Buyer, you do not want to disclose to the Seller how much you can actually afford.

If you do not have a lender, contact Terri Woods for a list of VIP Lenders. 

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Call or Text Me concerning information on BUYER REPRESENTATION SERVICES (No Cost to Buyer) 831-531-8183
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Mr. Seller... Did you wait too long? The real estate market has shifted in Watsonville, La Selva Beach and Corralitos

The real estate market has shifted in Watsonville, La Selva Beach and Corralitos and the proof is in the numbers.
Even though interest rates are still at historical lows, the buyers have seemed to slow down on buying - as evidenced in a higher inventory of homes for sale (even compared to last year).

So, what does that mean if you are a BUYER? If you were one of those buyers who was out-bidded during the buying frenzy of the summer, this is great news for you. You have a bit of room to breathe. The inventory is higher, giving you more options. And the interest rates are still so very low.

My advice for BUYERS: If you find the house you want… BUY IT!

What does this mean if you are a SELLER? Price your home right! Homes that are priced according to the market sell no matter if it is a Buyer’s Market or a Seller’s Market. Overpriced homes will sit and sit and sit. Then, a buyer who knows the property has been on the market for a while will make a lower offer. But, if you price it right at the beginning, your home will be one of those that sale. Notice the huge increase in the Days on Market. Pricing right the first time will greatly reduce the days your house will be on the market.

My advice for SELLERS: Price your home right the first time. Be aggressive in price reductions.

When you are ready to BUY a home, SELL a home, or INVEST in real estate, give me a call. I will help you save time, money and stress.

Stats from MLSListings, Zip Code 95076

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Does the Buyer or Seller Pay the Buyer's Agent?

Does the Buyer or Seller Pay the Buyer's Agent? What is the 'norm' in Santa Cruz and Monterey Counties for Buyer's Agent?

Answer:  In a traditional real estate transaction, the Seller has chosen to work with a Seller’s Agent. The Seller’s Agent normally markets the home in several different ways. One way the property is marketed is through the Multiple Listing Service.  In the Multiple Listing Service (MLS), the Seller’s Agent agrees to pay a Buyer’s Agent a determined amount.  In short, the Seller pays the Seller’s Agent and the Seller’s Agent pays the Buyer’s Agent.  (a.k.a. Buyers work with Buyer’s Agents for FREE!) If I represent you in a transaction with an Unrepresented Seller (For Sale By Owner), my commission will be negotiated prior to any contract. In the past, I have found that For Sale By Owner’s do not have a problem paying a commission to a Buyer’s Agent. This is a card I received from a For Sale By Owner who paid my commission.

Dear Terri - Josh and I want to thank you regarding your help with our recent house sale to Michael and Mary. We certainly appreciate your willingness to work with “by owner” sellers. We felt that the transaction went very smoothly and we are delighted to have Michael and Mary in the house. Thanks again for your help, Terri! Hope this finds you well. Sincerely, Kathy and Josh

Are you considering buying a home? Contact me and ask for my FREE Homebuyer's eBook with tips for SMART Homebuyers (including WHAT NOT TO DO!)

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Is it Better to BUY or RENT in Santa Cruz County or Monterey County?

Is it better to buy or rent 

in Santa Cruz County or Monterey County?

Because I enjoy selling real estate as a career, one would think that my first response is… BUY!  Sales prices are still low. Interest rates are still low. There are even programs designed to get people back in home ownership sooner than later after a foreclosure or bankruptcy.

But is it better FOR YOU to buy or rent?

Only you can answer that question.  There are many factors to consider.  How long you stay in your home is a big variable.  The New York Times Business Day has a great Rent vs. Buy calculator to help you determine if home ownership at this time is the way you should go. 

The monthly mortgage payment is a huge factor. To see the difference interest rates can make in a purchase, visit my blog What are you Waiting For or email me for more information.

Yes, there are many benefits to owning a home. You are able to change things the way you want them. Any improvement made is an investment in the value of the home. The possibility of a value increase, thus more money in your pocket when you do sell. Tax advantages.  Stability of having a home that is yours.

However, for some, the thought of owning a home is less than pleasing. The repairs, the upkeep, the lawn maintenance and the feeling of being tied down.

Again, there are pros and cons on both sides. If you are currently a renter, and are considering homeownership, give me a call.  I can help you save time, money, and stress in finding your very own home.

Search for affordable homes in Santa Cruz, Aptos, Capitola, Watsonville and surrounding area, North Monterey County.

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Call or Text Me concerning information on BUYER REPRESENTATION SERVICES (No Cost to Buyer) 831-531-8183
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