You are invited to join us for a presentation on the Timeless Trails of Santa Cruz County.
Wednesday, October 12, 5:30-7pm
CoastWoods Real Estate Office: 3912 Portola Drive #7
The next event in CoastWoods’ Educational Series will highlight one of Santa Cruz’s most coveted assets: our pristine and seemingly endless mountain biking and hiking trails.
Maddie Ortenblad will present on behalf of Coastwood’s partner non-profit organization, the Santa Cruz Mountains Trails Stewardship. Maddie will discuss:
- The history of the Santa Cruz Mountains Trails Stewardship and how their work is changing the Santa Cruz Mountains
- Why their work is important for maintaining a vibrant community
- The Timeless Trail campaign
We are pleased to serve our guests a variety of Mediterranean bites and sips from 5:30-6pm with the talk starting promptly at 6pm. We hope to see you there!
Click here to RSVP through Facebook. Click here to RSVP through Eventbrite. See you there!
Closing day property walk with buyers, sellers and their agents.
At Coastwoods, we believe that real estate is all about people and places.
And there’s no better way to celebrate a closing than to walk the property lines, talk to trees, and eat from the land with Buyers, Sellers, and their agents present.
More often than not buyers and sellers find themselves to be kindred spirits and revel in the opportunity to meet and hand over the reins.
Redwood Circles, fresh cherry tomatoes, septic tank location scouting, meeting the neighbors and the handing over of keys were just a few of the highlights.
As our clients cross the finish line, the hassle of rates, loan applications, inspections, negotiations and signings fade into the rearview mirror, and the reality that they found their sanctuary settles in.
Ready to find your sanctuary? Call a Coastwoods Real Estate agent today.
A closing represents more than a well earned paycheck to us. It represents the final accomplishment of months and sometimes years of work. It represents the joy and satisfaction of a job well done. It represents deep gratitude for the partnership that was developed with clients that, through thick and thin, always become friends.
Extra special thanks to:
- Our dream clients who worked for months to polish this gem.
- Ashley of House Candy Home Interior Design and Staging who did the pre-sale consultation, giving our clients well defined design guidance, and then staged the house to perfection.
- Laura Jones who excelled at client communication and attended to every little detail, including keeping the landscaping alive during a heat-wave.
Contact us for a pre-sale consultation and to hear more on how we can help you sell your home.
Fact: California has a severe housing shortage, the lack of which is driving rent through the roof for Californians across the state.
The problem as many see it is a zoning issue. Until recently, it was illegal to build housing in over 70% of the state.
Enter Senate Bill 9 (SB9), also called the California Housing Opportunity and More Efficiency Act (“HOME”). This “duplex bill” is part of a multi-part initiative to address California’s housing crisis.
SB9 provides a legal, streamlined process for homeowners to subdivide their urban single-family residential lot and/or build additional residential units on their property.
SB9 makes two important changes to state law:
- It allows homeowners in most areas around the state to divide their property into two lots, thereby increasing opportunities for homeownership in their neighborhood
- It allows two homes to be built on each of those lots, with the effect of legalizing fourplexes in areas that previously only allowed one home.
Additionally, SB9 alters the municipal review process.
Where the review process used to be discretionary (subjective, case-by-case), it is now subject to ministerial approval (objective, consistently applied). This change is intended to simplify and expedite the permitting process, making it easier and more accessible for homeowners to build additional housing on their property.
SB9 went into effect statewide on January 1, 2022 and all California cities must comply. Local governments are allowed to impose their own objective design standards and limitations, if they don’t directly conflict with the state law.
My favorite part of this bill is its potential to create community, stability, and multigenerational living opportunities.
People are healthier, happier and more successful when they live together in small communities. This type of living opens the door to the sharing of garden, pet, child and elder care, and provides a means to address individual isolation that can be a by-product of large single-family homes.
Per the SB9 fact sheet, one of the main goals of SB9 is to “provide more options for families to maintain and build intergenerational wealth, a currency we know is crucial to combating inequity and creating social mobility.”
State of California Fact Sheet
HK Law General Implementation Explainer
County of Santa Cruz SB9 Application Process
City of Santa Cruz SB9 Application Process
City of Capitola Community Development
City of Watsonville Community Development
City of Scotts Valley Planning Dept
County of Monterey
The “cap rate”, short for Capitalization Rate, is the most common metric of the rate of return on an investment property. Essentially, it’s meant to tell you how profitable a property is and agents often reference it on listings.
Unfortunately, calculating the cap rate is not as standardized as one would hope and thus it is easy to manipulate and mis-calculate.
Cap Rate and the “GRM” (gross rent multiplier) are often mixed-up.
The GRM is a # calculated by dividing the property value by the annual GROSS income.
~A $1m apartment building that earns $100k a year in rent has a GRM of 10
The CAP is a % calculated by dividing the annual NET income by the property value.
To get the CAP, we must subtract ALL of the annual expenses (recurring and nonrecurring) and then divide. Using the 50% rule (that half of the gross rental income should be used to pay for operating expenses) that $1m apartment building would have $50,000 per year in expenses.
~A $1m apartment building that earns $100k/yr and has $50k in expenses= has a 5% CAP.
The 50% rule does not always apply, so it is important to look closely at the cost of utilities, maintenance, capital improvements, property taxes, fees, and the volatility of the rental market.
It’s important to scrutinize the “listed cap rate” and find out exactly how it was calculated.
Often the “listed cap rate” is calculated using a low property tax basis (this happens when the building is owned for decades by the same person). Upon purchasing the property, your property taxes will be based on your purchase price, which could be much higher, making a high cap rate much lower once you own the building.
A higher CAP isn’t always better: A listing with a low cap rate could mean the owner has done a lot of maintenance and improvements. Whereas, a listing with a high cap rate could mean that the owner is under spending on maintenance and improvements. In this example, the property with the lower cap rate would be the better investment.
Moral of the story: Educate yourself. Do your homework. Dig deep. Keep your eyes wide open. Do the Math.
Welcome Dragon Slayer Lane, a hidden gem in Nisene Marks State Park.
The daily grind here involves peddles and inclines, not zooms and deadlines.
Watch your sympathetic nervous system calm and slow down along with the speed of your car the deeper into Nisene you get.
While everyone else is walking, hiking and biking, you would be headed home to 5.7 acres of terraced meadows, creek beds and Redwood forests. Ready now for off-the-grid living with well water, solar panels, propane and an owner installed septic.
Comes with an ‘O4 Montana trailer that you can use while you work on plans to build your dream home.
Existing three-story garage is plumbed for gas, has heat, a roughed-in full bathroom and a 25-foot deep cellar.
Other existing structures include a carport, multiple storage sheds, and a vintage water tower.
Private road is shared with two long-term neighbors.
Just rural-enough residential retreat with vaulted ceilings in a park-like setting, bring together the best that Aptos has to offer.
Solidly built in 1974, and yet this home seems to have been designed specifically for today’s needs: Two units for multigenerational living, or added income, room for multiple home offices, a park-like setting for taking Zoom breaks, and a large garage ready for a home gym.
Set up as two 1-bedroom units, this extra-large two bedroom, two-and-a-half bath home, plus office and loft, might be perfect as is, but could be easily converted back to a single family home.
The second bedroom sits on the lower level and has its own entrance, kitchen, and deck as well as interior access to the rest of the house. The upstairs has vaulted ceilings and is flooded with light.
The house sits in the middle of an expansive, private lot, on a quiet cul-de-sac. with fruit trees, garden boxes and lots of room to grow.
Two car, attached garage and quick on and off freeway access without any freeway noise in a safe, walkable, tight-knit neighborhood.
Close to Aptos Junior High, the Polo Grounds, and Deluxe Foods.
LOS GATOS MOUNTAINS
Median Home Price: $1,534,236
Homes Sold: 47
Median Home Price: $1,108,000
Homes Sold: 5
SAN LORENZO VALLEY
Median Home Price: $818,533
Homes Sold: 116
Median Home Price: $1,548,810
Homes Sold: 56
WEST SIDE SANTA CRUZ
Median Home Price: $1,741,633
Homes Sold: 47
EAST SIDE SANTA CRUZ
Median Home Price: $1.341,022
Homes Sold: 38
Median Home Price: $1,844,071
Homes Sold: 28
Median Home Price: $1,789,840
Homes Sold: 7
Median Home Price: $1,666,593
Homes Sold: 27
Median Home Price: $1,497,322
Homes Sold: 104
Median Home Price: $843,006
Homes Sold: 78
Median Home Price: $6,925,691
Homes Sold: 8
Median Home Price: $1,486,790
Homes Sold: 177
Median Home Price: $864,252
Homes Sold: 261
Median Home Price: $2,400,349
Homes Sold: 71
Median Home Price: $2,772,935
Homes Sold: 110
HIGHEST SALES PRICE
LOWEST SALES PRICE
Our homes are now bearing the brunt of the burden created by the shift to virtual work environments and how we live and work in our homes is still evolving. Personalized brokerage services are needed now more than ever.
We started CoastWoods as a place to come home to. A place to talk about your needs and get individualized care. A place to do business with people you trust, in an environment where you know that your best interests will be represented with integrity. Less corporate. More community.
We started Coastwoods because we mean business: In our first 6 weeks of business our small team of three has closed over $13m. in sales.
Please come visit our new office. We would love to sit down with a cup of tea (or beer) in hand, talk about your needs/wants, and figure out how we can help get you there.
Our doors are always open, our bikes and boards are at the ready, and our fridge is stocked.
P.S. ~ We are hiring and have a comprehensive mentorship program for people of all ages who are looking to start a career in real estate. Please let us know if you know anyone that might be a good fit for CoastWoods.
Low rates. Low inventory. Location, location, location. Enough said.
The Monterey Bay is simply one of the most beautiful places on Earth to live. We have clean air, clean water, the ocean, mountains, and people-centered communities teeming with moving bodies and smiling faces. There are so many of us that want to call this area home and there are simply not enough homes.
Buyers: Keep the faith and keep putting your best foot forward. Rents are high and not going down. Rates are still low. Do not be afraid to do what it takes to win the house that you want. Buying insulates you from rent increases and evictions. It allows you to have pets, knock down walls, plant trees, and pay less taxes. Make bold moves now if you have the chance. You will not regret it.
Sellers: Prices should continue to rise into next year, but interest rates, predicted to reach 3.6% – 3.7% by Fall 2022, may cancel out the gain. For every 1% increase in interest rates, buying power decreases by 10%. Just as water finds level, so do markets. Sell sooner than later if you can. Hire an agent and start prepping your house now in order to be ready for the Spring market.
Curious about what this all means for you? Call me: 831-234-1233.