AGENT MLS HOME FINDER

An unincorporated community in the Santa Cruz Valley, Pasatiempo, California, is located between Scotts Valley and Santa Cruz. It is home to the Pasatiempo Golf Club, a Top 100 Golf Club, and its residential real estate consists of many luxurious homes on the course. Like so many neighborhoods in California, the Pasatiempo real estate market has suffered in recent years as it tries to deal with the effects of the struggling U.S. economy.

Residents have lost jobs and seen their assets and investments fall in value, some have been forced into foreclosure and most have seen their home values fall. Sales volume was up in 2009 versus 2008 as many buyers looked to take advantage of low-priced foreclosed Pasatiempo homes for sale while others simply wanted to buy at a good time, while the government was offering tax rebate incentives of up to $8,000 for qualified homebuyers.

Trends of the Santa Cruz city market can be viewed to get an idea of Pasatiempo’s market, since the community is not incorporated and is thus considered a part of Santa Cruz. In February, the median price for homes sold in Santa Cruz was $500,000, an increase from January when it was just $480,000, and an increase from one year ago, when it was just $425,000. There were 92 homes sold in February in Santa Cruz versus 94 homes in January and versus only 87 one year ago.
The Pasatiempo neighborhood will be better off than many other Santa Cruz neighborhoods because it has something most communities don’t: a world-class golf course, and that fact will continue to draw interest and buyers despite tightened credit