The Santa Cruz real estate market is making headlines again. A few weeks ago, the news was that the median home price in Santa Cruz county had dipped below $800,000 for the first time in 15 months. But a fresh look at MLS data reveals that the Santa Cruz median home price hit $920K in March 2018. This is believed to … Read More
I received an interesting email this morning from John Dolan, who runs a web site at homepricefutures.com. I’m somewhat obsessed with the future of home prices, and if you count your home as one of your prime assets and biggest investments, I’ll bet you have at least a passing interest in future home prices as well! Here’s (a slightly edited … Read More
Given the media coverage and all the polling predicting a narrow but solid victory for Hillary Clinton, many in California were surprised – some horrified, appalled, and outraged – when Donald Trump won enough states to claim an Electoral College victory and has been named President-Elect of the United States. However you may feel about The Donald and what it … Read More
Properly evaluating homes in Santa Cruz can be tough work. Improperly evaluating properties is easy, and can be done in less than a minute on the web. As many sellers may suspect, there is a difference from the quality of a valuation you can get automatically from the web, and the type of evaluation that is provided by an experienced, … Read More
The Internet is swimming in offers for free, instant home price valuations. They’re all over Google search results, Facebook, Craigslist, and just about every Realtor web site. You can look up a home’s value on Zillow, eppraisal.com, and thousands of other sites which promise instant, online and accurate real estate valuations. But the truth is, there’s much more to know … Read More
Real estate values in the Golden State have been soaring for the past couple of years – especially around the San Francisco bay area. Of course, high-priced real estate is nothing new around here. In fact, it’s almost as though someone’s been planning for high cost real estate for years! But the dramatic price increases we’ve seen recently have again … Read More
July 2012 Santa Cruz Real Estate Market Statistics It’s time once again for the Santa Cruz Market Trends Newsletter! The latest market numbers for June 2012 show the market moderating, with the median price coming in at $487,500 – this is down 8.3% from the year-ago median price of $537,500 and also down 3.7% from the May 2012 median home … Read More
If you have a house that you need to sell, I’m going to bet that you’ll be wanting to get the most amount of money you can get for it – can I hear a boo-yeah, Amen to that brother? Wanting to sell your house for top-dollar is a given, right? That is, after all, why you hire a professional … Read More
What she doesn’t say is that there is a lean supply of homes because so many people are waiting for the market to turn around before they sell – and many many other people who would like to sell cannot, because they are effectively trapped in their homes which are “underwater” (that is, they owe more on the homes than they are worth). … It means that in the face of weak employment and stagnant incomes, when interest rates rise (as they are apparently rising now), the prices people will be able to pay for housing are going to drop – and that’s going to bring house prices right on down too. … Suffice it to say that while it may be true as the President says that there is a clear trend of lower unemployment – that trend could be easily reversed and, as the article I linked to notes, the drop in unemployment is largely due to the fact that 206,000 more people have given up looking for work and are no longer counted as unemployed. I’ve sipped the last of my Earl Grey and I’m looking down at what’s left in my cup, and I’m trying to make sense of what I see there. … Our pre-tax payment will be considerably higher than that, of course – so I for one really hope they don’t pull the plug on the mortgage interest tax deduction – which could , of course, have a really deleterious effect on home prices depending on how it is implemented.
They are not looking to speculate on real estate – that’s how so many people ended up getting foreclosed on in Watsonville, and in California, and in many other places throughout our glorious but fading homeland . A Speculator is someone who is placing a bet – they put some money down, and there bet is that the value of whatever they buy will go up. … These clients of mine are probably not what you would call professional real estate investors – but they want to buy real estate as if they were – and after they do buy a few properties, and if they keep with it, hey, before you know it – they will be professional investors, after all, every professional has to start somewhere. … What this means for my clients is that the amount of money they can afford to pay for a property, given their higher interest rate and lower rental rates means that they can offer less for a property than they had first thought – in order to make that 10% (or near 10%, anyway) return on their investment. … And, of course, the unemployment rate in Watsonville is reported to be at 25% – that’s huge, and I think it means a lot of people are going to be sharing housing, families living with families, rather than each family having their own individual place as I’m sure they’d prefer in many cases but owing to the weak economy cannot afford to do so at the moment.