I’m pleased to report that the Death of Watsonville has been greatly exaggerated. December was an absolutely miserable month for Watsonville, registering just three sales of single-family residences, with another couple of homes outside of the city limits. But as January winds to a close, properties have been going into escrow at a fair clip. It should be noted that many of these properties are foreclosure, “REO” properties. I have had considerable interest on several of my Watsonville listings, I’ve already received a couple of offers.
I was told last night by another agent that one property in the Apple Hill condo complex (up behind the Green Valley Cinema) came on the market at $230,900 and sold in a day. That’s a foreclosure, too – it sure looks like the owner, IndyMac bank, was in a hurry to get rid of that. It’s a large unit, too – three bedrooms, two bathrooms. It’s too bad for all the other home owners in that complex, and I have a listing in there, too, which is now looking over-priced at $289,000. At the time it was listed just a month or so ago, $289,000 was a bargain.
If you’re an investor and you live around here, you need to be checking into Watsonville. There are some great deals to be had, and when the market turns around, there will be some good money to be made. Remember – you earn the profit when you buy, you get the cash when you sell.