Santa Cruz County Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Oct. 1, 2021

Market Update - Santa Cruz County September 2021

Posted in Market Updates
Sept. 1, 2021

Market Update - Santa Cruz County August 2021

Posted in Market Updates
Aug. 17, 2021

4 Options When Buying and Selling Simultaneously

Remember that you have options when selling and buying simultaneously.

 

Buying a home? Click here to perform a full home search

Selling a home? Click here for a FREE Home Price Evaluation

 

Buying and selling at the same time causes a lot of confusion and keeps a lot of people from being able to move forward with a new home purchase.

 

The first thing that you want to do is talk with a real estate agent so they can give you the value of your home. Then you'll want to talk with a loan officer that can get you qualified for your new purchase and let you know what your payments would be. Once you've done both of those, you can put your home on the market and begin to shop for homes.

 

There are four strategies that most people use. What seems to be the easiest is to simply find a home that you like, then put your home on the market. The problem with that strategy is that it requires an offer that’s contingent on the sale of your current home.

 

The second strategy is most effective. Put your home on the market and negotiate with the buyers to make that transaction subject to the seller being able to find and close on a replacement property. That locks in the buyer at that price and with those terms.

 

"Talk with your real estate agent and loan officer."

 

The third option is to sell your home and have a long rent-back period. This could potentially be for free. The final option is some form of a bridge loan if you qualify with a lender to purchase your home prior to selling your current home.

 

If you have any questions about any of these options, please feel free to reach out to me via phone or email. I look forward to hearing from you.

 

Posted in Market Updates
Aug. 2, 2021

Market Update - Santa Cruz County July 2021

Posted in Market Updates
July 16, 2021

7 Reasons We Won’t See a Market Crash

Here’s why we won’t see a market crash anytime soon.

Buying a home? Click here to perform a full home search

Selling a home? Click here for a FREE Home Price Evaluation

 

Many of my peers and clients are asking me whether our market will crash soon. For those of us who study the market fundamentals, the answer is no—we won’t see a crash or dramatic adjustment in the next couple of years. We’ll remain in the competitive environment we’re currently in. You see, homebuyers are consolidating and working with those of us who’ve been in the market for a long time and have a good understanding of market cycles. There are seven specific reasons our market isn’t in a bubble:

 

1. Low inventory. Last March, there were 28 million fewer home sales in the U.S. than there were during March 2020. That’s a dramatic drop-off, and at the same time, we’ve seen a dramatic increase in demand. 

 

2. Lack of supply. Freddie Mac reports that we’re between 3.4 and 4 million homes short of meeting current buyer demand. 

 

3. Favorable demographics. About 50 million millennials will turn 30 this year, and millennials are expected to drive the market for the next decade at least. 

 

4. The return of international demand. There’s been a surge of international investment here in the U.S. as things have opened back up. The U.S. is still one of the most (if not the most) attractive countries for foreign investors, and we should see investment increase as we move further into the second half of 2021. 

 

"For those of us who study the market fundamentals, the answer is no—we won’t see a crash or dramatic adjustment in the next couple of years."

5. Low mortgage rates. The Federal Reserve helped keep mortgage rates low this spring, which really helped the market. They’ve stated that they’ll continue to keep rates low at least until 2022. 

6. Tighter credit requirements. Prior to the crash of 2008, about 40% of all home loans were considered high-risk mortgages with looser credit requirements. Today only about 2% of all mortgages carry the same distinction. 

7. Greater equity. About 56 million homeowners out there are considered ‘equity rich,’ which means they own 50% or more of their home’s current value. When people have more equity, there’s less of a chance of their homes going into foreclosure.

As always, if you have questions about this or any real estate topic, don’t hesitate to reach out to me. I’m happy to help.

 

 

Posted in Market Updates
July 1, 2021

Market Update - Santa Cruz County June 2021

Posted in Market Updates
June 2, 2021

Market Update - Santa Cruz County May 2021

Posted in Market Updates
May 3, 2021

Market Update - Santa Cruz County April 2021

Posted in Market Updates
April 2, 2021

Market Update - Santa Cruz County March 2021

Posted in Market Updates
March 1, 2021

Market Update - Santa Cruz County February 2021

Posted in Market Updates