Aptos Real Estate

Aptos Community News provides a monthly Aptos Real Estate Market Update, provided by Real Estate Broker and noted Realtor Sebastian "Seb" Frey. These monthly reports always include a video component, and feature a full set of Aptos real estate sales data for both single family homes and condominiums and townhouses. In addition, we routinely publish articles about real estate developments and topics of interest to both current and prospective Aptos real estate owners. There is no better place on the Internet to find timely, insightful information and opinion on Aptos real estate than AptosCommunityNews.org!

Aptos Real Estate Update October 2016

October 25, 2016 by Seb Frey

It has been four months since my last Aptos real estate market update, back in June. Back then, I had some actual news to share. The real estate report was no longer the same story of rising prices with crushingly low inventory. Prices were still rising back in June, but the number of sales had dropped and the supply of homes reached nearly six months – the biggest supply we’d seen in quite some time, and as everyone knows, greater supply often leads to lower prices.

The spring and summer selling seasons are long behind us, and we’re well into autumn. Far from being a dead time of year, some of the highest prices for Santa Cruz Real Estate are recorded in the autumn months. So how is the Aptos real estate market holding up these four months later, in October 2016?

What’s YOUR Aptos House Value?

Aptos Home Prices — Find YOUR Home’s Value!

Interested to know what your Aptos house is worth in today’s real estate market? Then head over to SellForSure.com for an instant, on-line evaluation of your Aptos home’s value.

The answer is, it’s been stronger – Zillow gives Aptos a “market health” of 7.5/10 – which is rated as “good” but not “excellent” as we’ve seen in the past. Homesnap rates Aptos at 81/100 – “healthy” – but not “very healthy” as we’ve seen it not so long ago.

But here’s what you really want to know – the median home price for single-family homes in Aptos in September 2016 was $805,000 – which is down 9.3% compared to a year ago. Speaking of good and healthy: that perfectly describes this year-over-year price drop, if you ask me. The number of homes sold was also down; only 29 homes were sold in September 2016, vs. 40 in September 2015, a drop of 27.5%.

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But the news wasn’t all bad: homes sold for 99% of asking price, and a year ago homes received just 96.9% of full list price. Also, the 29 homes that sold did so in an average of just 34 days on market – compared to 46 days on market a year ago. It seems that while folks are paying less for housing this year than last year, the homes are selling more quickly – a mixed blessing for sellers.

And here’s some more good news, at least if you’re thinking about putting your home on the market this year: we are back down to a 3 month supply, vs. a 6 months supply four months ago. There are 103 single family homes for sale in Aptos at the moment, with 33 under contract and just 70 available for purchase. That works out to just 95 days worth of inventory – or, not much competition for home seller, and a still-challenging market for home buyers.

What does the future hold?

Want to know what the future holds? Wouldn’t we all! There’s no way to know for sure what’s going to happen with the housing market next year, but you can listen to an expert’s best guess here: California 2017 Real Estate Market Forecast

The market for townhouses and condos in Aptos is also also down compared to a year ago. Just four townhouses/condos sold in Aptos in September 2016 – compared to 11 in September 2015, a decrease of 63.6% year over year. The median price for condos in September 12016 was lower too – just $607,750 vs $672,500 a year ago (a drop of 9.,6% year over year).

One interesting note about the condo market is that these 4 homes sold in an average of just 11 days on market – compared to 66 days on market a year ago. This is a good indication that well-priced homes will sell – and sell quickly – in Aptos. If you are planning to sell your condo or townhouse, please note that there is presently 150 days worth of inventory in Aptos, so don’t be too aggressive with your pricing.

Low, Median, and Highest Sales – Single-Family Homes

7101 Fern Flat Road - 0 bed, 0 bath, 300sf - sold for $420K after 42 DOM (7 acres of land) — 7101 Fern Flat Road – 0 bed, 0 bath, 300sf – sold for $420K after 42 DOM (7 acres of land)

200 Heather Terrace - 3/2.5, 1957sf - sold for $805K in 42 DOM — 200 Heather Terrace – 3/2.5, 1957sf – sold for $805K in 42 DOM

544 Beach Drive - 3/3 2100sf - sold for $1,825,000 after 64 DOM — 544 Beach Drive – 3/3 2100sf – sold for $1,825,000 after 64 DOM

Low, Median, and Highest Sales – Condos/Townhouses

1614 Dolphin Drive - 2/2 945sf - sold for $450K in 14 DOM — 1614 Dolphin Drive – 2/2 945sf – sold for $450K in 14 DOM

6115 Sheraton Place - 3/2.5 1479sf - sold for $625K in 11 DOM — 6115 Sheraton Place – 3/2.5 1479sf – sold for $625K in 11 DOM

210 Carrera Circle - 3/2.5 1450sf - sold for $704K in 9 DOM — 210 Carrera Circle – 3/2.5 1450sf – sold for $704K in 9 DOM

County is Planning Big Changes for Vacation Rentals

July 2, 2016 by Seb Frey

More Restrictions are coming for Aptos Vacation Rentals

This article is provided courtesy of Robert Singleton, the Government Affairs Director for the Santa Cruz County Association of Realtors. It is being provided to readers of AptosCommunityNews as many Aptos residents and home owners will be affected by the proposed changes.

During their June meeting the Santa Cruz County Board of Supervisors voted to place significantly harsher restrictions on local vacation rental units and property owners. If you have been following this issue for the past couple of years then you were likely already aware of the two existing designated tourism districts in both Live Oak and Seacliff.

Essentially, these districts limit the total number of houses that can be used as short terms rentals, as well as the number of short term rentals per neighborhood block.

Last Tuesday, the Board not only created a new district (encompassing Davenport and the surrounding areas), but also adopted a half measure process that governs how these permits are to be awarded and renewed, both of which will hurt property owners.

Now the original stated purpose for the creation of these districts was twofold:

limit the neighborhood impacts that are associated with vacation rentals, and
protect units that would (could) be used as long term rentals.

The Santa Cruz County Association of Realtors opposed these new regulations from the beginning because we saw them as a violation of private property rights, but also because it’s a classic case of the government picking winners and losers. By creating an artificial scarcity in the marketplace for permits (whose potential value may exceed $100,000), the Board was effectively able to distort the value of all the affected properties in these areas. Starting day 1, the homes that had permits instantly became more valuable than those that didn’t, and thus it was (and still is) within every household’s self-interest to seek out a permit, even if they don’t intend to use it.

Now the unintended consequences of enacting such a policy are pretty clear, but rather than address the fundamental problem in approach (placing arbitrary limits on a high demand market), the Board doubled down with measures meant to diminish the potential negative repercussions of the policy.

First, they decided to not deed restrict the permits (which is unlike almost every other use permit on the books), electing instead to adopt a 5 year period of use, thus making the market distortion in home values a temporary phenomenon; while hopefully allowing for more households to take advantage of this price inflation once the first permits began to expire. They also decided to award the first permits to those homeowners who had already been paying Transient Occupancy Tax (TOT), which were few and far between. The rest of the permits: first come first served.

Now here is probably the most significant problem with this policy: If you limit the total number of properties that can be short term rentals, but choose not to pair the permit with the property, who gets to decide which properties get permits and when? Well they took the easy way out and basically created a process where no one decides, it’s as simple as whoever shows up first.

Buying a house is likely the most important investment a person will make in their lifetime, and now the County has the power to either add or takeaway a significant portion of that home’s value based upon what criteria? A permit that could easily be worth over $100,000 (in just revenue) over the 5 year period, and they have absolutely no process for determining who does or does not reap that benefit. First come, first served.

The Planning Commission, based upon a recommendation from staff, voted unanimously to build in a “grace period” whereby existing and legal short term rental units could reapply for the permit that they had already been enjoying. They were to be given up to 60 days to decide if they wanted to opt back into operation, so to speak, which they undoubtedly would because who wants to lose $100,000 of appraised value from their house?!? On Tuesday the Board (minus absent Zach Friend) voted to end that grace period entirely, and when paired with the first come first serve policy, basically means once those permits are up, no one knows what’s going to happen.

Staff and the Planning Commission both outlined multiple ways in which this problem could be avoided. They gave multiple options, including a lottery system and a criteria system. But the Board justified their stance in favor of the first come first served policy by stating “well we don’t know what’s going to happen when these permits come up for renewal, so let’s just wait until then.”

So there is now a massive economic interest in getting a vacation rental permit and no criteria for awarding that permit other than being one of the first people to grab it. They are no incentives for good financial standing, or good management, just incidental penalties for bad behavior. On top of this you don’t even have to use the permit. You only have to prove “significant rental use” when reapplying for your permit, 5 years later.

The County then also mandated that all new vacation rental units with 4 or more bedrooms (admittedly arbitrary) have to have a public hearing before the Zoning Administrator (ZA). Now beyond the practical problems associated with a public hearing (time of day, opportunity cost, etc.), there is no reason to even have one in the first place. Why? Because all new permits can already be appealed to that same ZA, through an already established process. Furthermore, the ZA has no grounds to deny an individual a permit anyway. If you meet all the requirements upon application then there are no other legal reasons why the ZA would be allowed to deny you.

So why do it?

The purpose is to intimidate would-be vacation landlords from going through the process to begin with. A mandatory public hearing creates the space for public shame. Again, even if the ZA can’t deny your permit you are still required to attend a hearing in which your neighbors (and frankly anyone who doesn’t like the idea of your vacation rental) are encouraged to show up and list all of the reasons why they don’t like your idea, despite the inherent economic benefit of getting one.

So this brings us to the most important part of this article: What can we do about this?

Good news! The ordinance has not yet been finalized and must go through both the Planning Commission and the Board of Supervisors again before becoming law. This means we need still have time to fight this! Here’s what you can do:

Attend any and all hearings of the County Planning Commission, Housing Advisory Commission, and Board of Supervisors as possible. Even if they aren’t hearing this particular item on the day you attend, you should still stand up to speak during oral communications to let them know how you feel. The schedules for each of these bodies can be found here:
a. Board of Supervisors
b. Planning Commission
c. Housing Advisory Commission
If you cannot attend these meetings then please send a letter via email to all of the Supervisors and their staff: john.leopold@co.santa-cruz.ca.us, zach.friend@co.santa-cruz.ca.us, ryan.coonerty@santacruzcounty.us, greg.caput@co.santa-cruz.ca.us, bruce.mcpherson@co.santa-cruz.ca.us
Write a letter to the editor to the Sentinel expressing your dissatisfaction with the new rules. Need material? Email me and I can provide you with some samples, or we can even write a letter together: gad@mysccar.org
SHARE THIS ARTICLE! Seriously, share this article with all of your friends, post it on Facebook NextDoor, email it to your coworkers, send it to anybody who will listen!
If you are interested in any of the above options but have questions or comments about anything in this article do not hesitate to email me: gad@mysccar.org. I can help you with what you want to say and how to say it. I am also going to start holding regular organizing meetings with people who are interested so that we can stay ahead of this issue.

Aptos Real Estate Update June 2016

June 22, 2016 by Seb Frey

Hey Aptos – we’re officially – finally! – in summer, so it’s time for the Aptos Real Estate Update June 2016! And this time – for the first time in ages – there is actually some NEWS in the Aptos Real Estate market! And the news could be good, or bad, depending on your perspective…so check this out:

Aptos Real Estate Market Showing Weakness

You’ll probably want to know that the median home price for single family homes in Aptos in May 2016 was $855,000. This is 1.8% higher than the year-ago median of $840K – but after accounting for inflation, the “real” median price is virtually unchanged from a year ago.

But a lot of other numbers did change, like sales volume. We sold 22 homes in Aptos in May 2016, a decrease of 24% from a year ago when 29 homes sold in May 2015.

What’s YOUR Aptos House Value?

Interested to know what your Aptos house is worth in today’s real estate market? Then head over to SellForSure.com for an instant, on-line evaluation of your Aptos home’s value.

Homes also took longer to sell than a year ago – the homes which sold did so in an average of 43 days, nearly 23% slower than this time last year, when homes sold in an average of 35 days.

Sellers also received less compared to their asking price this year, receiving just 99.6% of asking price. That sounds great, but last year, sellers received 101.9% of asking price in May 2015.

Aptos Seller’s Market May be at its End

The big news in this month’s Aptos real estate news is that we may be reaching the end of this amazing seller’s market we’ve had for the past several years. There are presently a total of 104 single family homes listed for sale on the Aptos MLS, with 21 of them under contract. The way I figure it, that means there is now a 5.9 month supply of homes.

What happened? How did we go from less than 3 months’ supply of homes to nearly six? Check out this chart below:

This chart shows listing and sales activity in the “Spring” period in Aptos (March 20th through June 20th) from 2003 through 2016. As you can see, there were relatively few houses listed in Aptos this spring – 22% fewer than average, with just 116 homes having been listed this spring versus an average of 149 homes in the other years.

While new listings are down – sales volume is way, way down. Between 2003-215 we averaged 87.8 homes sold in the spring period; this year, we had 64 go ‘pending’ – many of which are under contract still as of this writing and may fall out. But assuming that all of those ‘pending’ homes close, we’re still have 27% fewer sales this spring than average – and 33% fewer closings than last spring.

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When you add it all up, it’s clear that May 2016 was a poor month for home sales in Aptos, and that the whole spring selling season was remarkably soft.

It’s too soon to call this a trend, but the fact is we are now poised on the precipice of leaving a seller’s market (defined as a market with less than 6 months’ supply of homes). There is more inventory available today than we’ve seen in a long, long time – and if buyers don’t step up to buy these homes chop-chop, we can expect to see this translate into lower home prices.

What about the rest of our area?

Want to know what’s going on with home prices in the Bay Area? For a complete report on our regional market as a whole, check out my recent article about making sense of Bay Area Home Prices

Low, Median, and Highest Sales – Single-Family Homes

1943 Redwood Drive - 3/2 1418sf sold $552,800 after 20 DOM — 1943 Redwood Drive – 3/2 1418sf sold $552,800 after 20 DOM

144 Camino Pacifico - 3/2.5 184sf sold $885K after 11 DOM — 144 Camino Pacifico – 3/2.5 184sf sold $885K after 11 DOM

540 Beach Drive - 3/3.5 1952sf sold $1,823,000 after 140 DOM — 540 Beach Drive – 3/3.5 1952sf sold $1,823,000 after 140 DOM

Low, Median, and Highest Sales – Condos/Townhomes

There were 10 sales of condos and townhomes in May 2016, a drop of 8.3% compared to a year ago. The median sales price was $626,000 – a gain of 9.8% compared to the prior year’s median of $570,000. These 10 homes sold in an average of 39 days on market, and sellers received 99% of asking price for their homes, similar to last year when they received 99.6%.

408 Sailfish Drive - 2/1 844sf sold $550K after 10 DOM — 408 Sailfish Drive – 2/1 844sf sold $550K after 10 DOM

122 Stephen Road - 2/2.5 1224sf sold $622K after 14 DOM — 122 Stephen Road – 2/2.5 1224sf sold $622K after 14 DOM

230 Rio Del Mar Blvd #L - 2/2 972sf sold $775K after 188 DOM — 230 Rio Del Mar Blvd #L – 2/2 972sf sold $775K after 188 DOM

Zach Friend Interview: Aptos Village

May 25, 2016 by Seb Frey

In the ninth and final segment of our Zach Friend Interview Series, the Supervisor talks about the Aptos Village Project. Zach stresses that the county’s role in the project at this point is very specific, focusing primarily on traffic improvements such as new signal lights, sidewalk, widening Soquel Drive, installing a dedicated left turn lane, and crosswalks. These will be some of the first changes we’ll see in the Village, and it’s just the beginning of a multi-year process. To the greatest degree possible, the county and the developer will provide information to the community proactively so people can plan accordingly.

Watch the Video Now

We hope that you have enjoyed all these segments of our Zach Friend Interview Series!

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Aptos Real Estate Update May 2016

May 24, 2016 by Seb Frey

It’s been a cold and damp spring this year in Aptos – it seems like only yesterday we were enjoying 90 degree weather in December, and now we’re here at the end of May and I’m wary about leaving the home without a hat and gloves. But I know that summer is right around the corner, because everyone’s counting down the days until we start up Junior Guards. Let’s hope that we feel some summer heat, otherwise there will be lot of teeth chattering on the beach in a couple of weeks!

If you’re a homeowner, you’ll be glad to know though that the heat hasn’t left the Aptos real estate market. It’s been a hot real estate market for so long that I’m running out of fresh superlatives to describe just how awesome it is to be selling a home in Aptos right now. The median price in April hit a lofty $910,000 – which granted is down from February, but it’s still up nearly 11% from this time a year ago.

What’s YOUR Aptos House Value?

Interested to know what your Aptos house is worth in today’s real estate market? Then head over to SellForSure.com for an instant, on-line evaluation of your Aptos home’s value.

This past April, a total of 27 homes sold in Aptos. That’s actually a decline of 23% from a year ago, when we closed 35 homes in April 2015. But get this: the homes which sold in Aptos did so in an average of 19 days. That’s fast. How fast? Well, how about a year ago, homes sold in an average of 112 days? That’s, like, almost six times faster than a year ago.

You may have seen a lot of “for sale” signs going up in your neighborhood – no, you’re not just imagining it. Homes are coming up for sale, as they tend to in the spring and summer. But those signs don’t stay up for long – there are presently 86 single family homes listed for sale on the Aptos MLS, but 28 of those are under contract with just 54 available for purchase. The way I figure it, that’s just less than a 3 month supply of homes on the market. That’s more competition than sellers had two months ago, but it’s still a very strong seller’s market.

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The market for condos and townhomes remains ebullient as well – nine condos and townhomes sold in Aptos in April, and they did so in an average of just 18 days and for a median price of $669,000. A year ago, condos and townhomes sold in an average of 33 days – and with a median price of $557,500. That’s a big jump in condo prices – up 20% year over year, actually.
The Aptos real estate market – and the Santa Cruz real estate market in general – remain piping hot this spring selling season. I know a lot of folks out there are thinking that maybe this is a market they want to take advantage of – and with good reason! If you’re thinking about cashing in on today’s stellar real estate market, consider this:

According to the National Association of Realtors, summer is prime home selling season, with 60% of all annual sales occurring late spring through summer.
Nationally, the number of home sales, as well as home prices, reach their peak in the summer with July being the hottest sales month.
Families with children often try to move during the summer months to avoid disrupting school schedules.
The law of supply and demand is in your sellers’ favor. Nationally, homes sales are up 6% over a year ago, with inventory up only 3.6%.
Analysts predict a possible market slowdown after August, as the presidential election (one of the craziest ever!) draws near. Traditionally, election season tends to create uncertainty in the minds of buyers, and nothing is more of a buzz killer for buyer enthusiasm.

What about the rest of Santa Cruz county?

Want to know what’s going on in all of Santa Cruz county? For a complete report on Santa Cruz county as a whole, check out the Santa Cruz County Real Estate Report for May 2016

Low, Median, and Highest Sales – Single-Family Homes

3531 Redwood Drive, 2/2 1,479sf sold for $591,600 in 10 DOM

219 Claudius Drive, 2/2 1,444sf sold for $910,000 in 6 DOM

20 Pleasant Heights Drive, 5/4.5 4,200sf sold for $1,740,000 in 7 DOM

Low, Median, and Highest Sales – Condos/Townhomes

3050 Marlo Court #6, 2/1, 1,045sf, sold for $506,000 in 1 DOM

3030 Arlington Drive, 3/3 1,950sf sold for $669,000 in 17 DOM

120 Rio Del Mar Boulevard, 1/1, 903sf, sold for $842,000 in 30 DOM

Zach Friend Interview: Housing Affordability

May 17, 2016 by Seb Frey

In the eighth segment of our Zach Friend Interview Series, the Supervisor talks about housing affordability and what needs to happen to improve it in Santa Cruz county. According to Friend, too many people live in substandard and overcrowded housing conditions, and it is simply unacceptable for this to be happening in a place and time as wealthy as we live in. The Supervisor notes that if current trends continue, there will be more renters than home owners in Santa Cruz county in a couple of years.

He remarks that many of today’s problems with traffic can be attributed to the fact that most of the new housing in the county has been built in the southern portion of the county, but most of the job growth has been to the north. While the county does not build housing, what it can do is facilitate an environment where housing can be built that fits the present-day and future needs of Santa Cruz county.

The Supervisor also discussed redevelopment of the Par Three Golf Course and the Poor Clares property as well, as there’s been some talk in the community over the years about these properties.

Watch the Video Now

In the ninth segment of the interview, Supervisor Friend wraps up our interview and discusses the Aptos Village Project.

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Aptos Real Estate Update April 2016

April 20, 2016 by Seb Frey

I’m not going to bury the lede on this one: the median price for single-family homes in Aptos recently broke $1,100,000. Yes, you read that right: in February 2016, 12 single-family homes sold in Aptos, and the median price was $1,1045,00 (one home was an ocean view home on Kingsbury in Rio del Mar). That’s an increase of over 50% year to year, as the median home price in February 2015 was $700,750.

But in March, we had nearly twice as many closings, and the median home price dropped – all the way down to $829,000 (for another ocean view Aptos home, but one considerably further from the actual ocean). A year ago, in March 2015, the median price in Aptos was was $870,000 so the March 2016 median home price was actually down 4.7% year over year.

What’s YOUR Aptos House Value?

Interested to know what your Aptos house is worth in today’s real estate market? Then head over to SellForSure.com for an instant, on-line evaluation of your Aptos home’s value.

Don’t let those March numbers fool you though. As a whole, the median home price in Santa Cruz county in February hit $794,500 and was $790,000 in March. We have officially entered new territory, as both of those numbers are higher than the previous all-time median home price high set in November 2005 – a couple years before the market meltdown.

If you needed any more persuading about what a hot market Santa Cruz is right now, Realtor.com recently reported that Santa Cruz is the 4th Hottest Real Estate Market in the country.

Zillow says Best time to List is May in Aptos

You might say that the Aptos real estate market is in rude good health. There are presently 67 single-family homes listed for sale in Aptos, but of those 26 are under contract, leaving just 41 homes available for purchase. That works out to about a 71 day supply of homes. Homes sold in an average of 33 days in March.

There’s no question about it: the Aptos and Santa Cruz real estate markets have never been better – if you’ve got a home you’re thinking of selling that is. As it happens, Zillow has declared that May is the best time to list a home in Aptos, estimating sellers will receive an additional $11,310 on average versus listing in April. If ever there were a time to sell a home in Aptos – it seems this is it.

What about the rest of Santa Cruz county?

Want to know what’s going on in all of Santa Cruz county? For a complete report on Santa Cruz county as a whole, check out the Santa Cruz County Real Estate Report for April 2016

359 Beach Drive sold in March 2016 for $2,100,000

Multi-Million Dollar Aptos Foreclosure at 631 Quail Run Road

April 11, 2016 by Seb Frey

A Multi-Million Dollar Aptos Foreclosure has returned to the Aptos real estate market. The home is located at 631 Quail Run Road, has been on and off the market for the past several years and is back this spring with a reduced price of “just” $3,790,000. It’s a stunning hilltop estate built on 68 acres, less than five minutes to Aptos Village. The home offers incredible Monterey Bay and forest views from nearly every room. The home features five bedrooms, 6 full bathrooms (and 3 half baths), and nearly 10,000 square feet of living space.

On the outside, the home offers a fresh, contemporary take on the classic English Tudor style, complete with a distinctive Cotswold rolled roof design that mimics thatch roofs of yore. The inside is a veritable wonderland of custom design elements, with handcrafted wood trim, doors, book cases, shelving, bannisters, and much more. The home features a living room, family room, office, library, play room, recreation room, media room, and a sunroom off the master suite which connects to the lap pool in the patio just outside. There’s also garage space for four vehicles, and an 1100 square foot guest house.

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The master suite is particularly impressive, with not only his-and-hers closets, but his-and-hers bathroom suites as well.

The home was built in 1992, reportedly at a cost of $8,000,000 and today’s offering price of just $3,790,000 would have to be considered a reasonable price (consider after all the kind of relatively humble abode $1,000,000 buys in today’s market). The property is currently listed with Christine Evans at Bailey Properties, but can be shown by the agent or broker of your choice. The home is gated so you can’t drive by to see it, but it is vacant and available to see any time.

The bank which owns the property is offering special financing options for the home, and they are encouraging buyers to submit their best offer today.

Video Tour

Photo Gallery

We Are Aptos Lawsuit Examined

March 25, 2016 by Seb Frey

Download the We Are Aptos Lawsuit Complaint

As has been widely reported elsewhere, the neighborhood group known as We Are Aptos has filed suit against the Santa Cruz County Board of Supervisors and the various developers of the new Aptos Village. The group’s web site provides some information on the lawsuit, in particular a letter sent to the Board of Supervisors by local land use attorney Bill Parkin of Wittwer Parkin.

One item absent from the group’s web site is an actual copy of the complaint, that is, the text of the lawsuit which has been filed. As this is public record, it has been obtained from the Superior Court of Santa Cruz County clerk and is being made available here for the public’s examination.

The crux of the lawsuit seems to be that the Final Map approved by the County Board of Supervisors in December 2015 differs “substantially” from the Tentative Map approved in 2012, and that this is a violation of the California Subdivision Map Act (and Santa Cruz County Code section 14.01.209(2) as well). The suit alleges that not only are the tentative map and final map substantially different, the final map leaves off entirely a new county park, which was to be donated by the developer and for which the developer apparently received a handsome reduction in fees.

Santa Cruz County has provided to Aptos Community News two lengthy PDF documents which the public may find interesting to read through. The first set of documents contains information relating to the tentative map approval; the second second of documents are for the final map approval. These document sets contain both the tentative map which was approved in 2012, and the final map which was approved in December 2015. These maps are presented here:

Tentative Aptos Village Map as Approved in 2012

Aptos Village Final Map – Phase 1, Approved December 2015

Looking at the maps, it is plain to see that indeed, the final map which was approved is substantially different from the tentative map. Notably, the final map shows several large remainder parcels. What’s a remainder parcel, you ask? A remainder parcel is:

a portion of a unit or units of improved or unimproved land which a subdivider has designated as not being divided for the purpose of sale, lease or financing.

The question naturally arises: why are there now several remainder parcels on the final map, instead of what was shown and approved on the tentative map?

Not surprisingly, it appears to come down to money. The final map which was approved is only for Phase 1 of the project. The rest of the map will be filled in subsequent phases. Developers use this approach to delay paying substantial development fees. Likewise, the “park” – a rugged piece of terrain which though considered a “Common Area” will likely exist primarily as open space or wildlife habitat – should show up on a subsequent map.

When contacted about the lawsuit, the public relations firm working for the lead developer of the project, provided only this response:

Barry Swenson Builder is committed to the community of Aptos and has been for over a decade on this project. We’re confident the Aptos Village project will be one the community will be proud of. The project is the product of a comprehensive public process, completed in collaboration with community leaders and local experts. The project provides needed housing inventory, creates a community hub for Aptos and benefits from the most advanced environmental and planning strategies used in the county.”
–Mary Gourlay, Barry Swenson Building Development Project Manager.

Jason Hoppin, Communications Manager for the County of Santa Cruz, provided some additional commentary:

We are disappointed this suit was filed. The Aptos Village Plan dates to the 1970s and is the result of years of community meetings. There is widespread community consensus on the need for new housing, including affordable housing, and this project begins to address those needs.

Aside from the phasing of the project, there are some differences between the tentative and final maps. For example, the tentative map shows “Valencia Street” leading straight out of the village to Trout Gulch Road, whereas the final Phase 1 map shows the street as a renamed “Aptos Village Way” curving before it reaches Trout Gulch. It’s an open question if a judge would consider these variances to be a “substantial” difference or not.

For the time being though, it looks like work is proceeding apace on the Aptos Village project, and both the developer and the Board of Supervisors seem confident this lawsuit will have little or no impact on the development plans and schedule.

Aptos Real Estate Update February 2016

February 17, 2016 by Seb Frey

To all home owners of Aptos, I bring you good tidings! Yes, we’re still in a stage 3 water emergency, but, but….the median home price in Aptos is up 10.5% compared to a year ago! The median price of a single family home in January 2016 hit $817,500 – and the median price for condos was not much further behind at $665,000 – an increase of nearly 67% compared to a year ago. Welcome to the Aptos Real Estate Update February 2016!

I know what you’re thinking: that’s insane. $665K for a condo? Well, to be fair, three of the five condos sold last month were in the Seascape Resort, with all those lovely ocean views. That’s fair. They’re not making more Ocean View condo units in Aptos – unless maybe a few in the new Aptos Village will have ocean views, in which case, never mind.

It could be you’re thinking, “$817,500 median price for homes in Aptos! That’s Insane!” Well, I won’t differ with you there, but you want to know what’s really insane? Check this out:

I hear it's winter someplace. #winter #aptos #beach #february

A photo posted by Sebastian Frey (@sebfrey) on Feb 15, 2016 at 3:05pm PST

That’s a picture I took on the beach on President’s Day. February 15. I think it was -2°F in New York that day. And the median home price in Manhattan is something like $1.87 million. So what’s the measure of sanity these days?

What’s YOUR Aptos House Value?

Interested to know what your Aptos house is worth in today’s real estate market? Then head over to SellForSure.com for an instant, on-line evaluation of your Aptos home’s value.

Aside from the drought, the traffic snarls, the lack of a movie theater, and myriad other flaws and imperfections, the reality of the situation is that there’s nowhere else on Earth that I’d rather live. Really. And it seems that many – too many! – other people feel the exact same way. And they’re voting with their money, driving up the cost of housing and creating a real challenge for us as a community. It seems unlikely there will ever be enough housing supply to meet demand in Aptos – and I dare say, if that day ever comes, it will be because Aptos will have truly become a place you’d want to move out of, rather than move to. Let’s hope we never see the day.

Aptos Single Family Home Sales February 2016

By the Numbers

Median Price: $817,500 (up 10.5% Y-o-Y, up 4.9% M-o-M)
# Homes Sold: 19 (up 5.5% Y-o-Y, down 17.4% M-o-M)
Average Days On Market for Sold Homes: 77 (vs. 72 DOM year ago)
Sales to List Price Ratio: 98.3% (vs. 99.4% last year, 96.5% last month)
Single Family Homes Listed on MLS: 48 (up 6.7% M-o-M)
Pending Sales on MLS: 15 (down 40% M-o-M)
Available Homes on MLS: 33 (up 32% M-o-M)

What Your Money Buys You – Houses

While the median price for homes in Aptos in January 2016 was $887,450, the least expensive home went for $565,000 and the most expensive went for an even $1,800,000. Here’s what that kind of money buys you in Aptos today:

505 Gertrude Avenue, 2/2.5 1375sf sold $565K after 91 DOM

405 Lock Drive, 2/2 1124sf sold $817,500 after 2 DOM

998 Via Malibu, 3/2/ 2217sf sold $1,800,800 after 207 DOM

Want the Best Price for your Aptos Home?

Why gamble on getting the best price and terms possible when selling your house? Want something more like a sure bet? Then check out this 20 minute webinar on how to sell your home quickly, for the highest price, and with the least hassle, uncertainty, and risk. This is a No BS Webinar on how to Sell your Home – it’s short and to the point, and well worth a few minutes of your time.

Aptos Condo/Townhouse Sales February 2016

By the Numbers

Median Price: $665,000 (up 66.7% Y-o-Y, up 17.7% M-o-M)
# Units Sold: 5 (same as year-ago, down 37.5% M-o-M)
Average Days On Market for Sold Units: 173 (vs. 72 DOM year ago, 55 month ago)
Sales to List Price Ratio: 96.8% (vs. 99.4% last year, 97.7% last month)
Condos/Townhouses Listed on MLS: 33 (up 6.7% M-o-M)
Pending Sales on MLS: 12 (down 40% M-o-M)
Available Units on MLS: 21 (up 32% M-o-M)

What Your Money Buys You – Condos

While the median price for condos in Aptos in January was $665,000, the least expensive unit sold for $472,500 and the most expensive went for $875,000. Here’s what that kind of money buys you for an Aptos condo/townhouse today:

1958 Dolphin Drive, 2/1.5 1215sf 7 DOM $472,500

16 Seascape Resort Drive, 2/2.5, 1263sf, 197 DOM, $665K

81 Seascape Resort Drive, 2/2, 1234sf, 367 DOM, $875,000

What about the rest of Santa Cruz county?

Want to know what’s going on in all of Santa Cruz county? For a complete report on Santa Cruz county as a whole, check out the Santa Cruz County Real Estate Report for February 2016