Santa Cruz Real Estate Blog - Paul Burrowes

Balancing Debt and Home-Buying Dreams

Image by Freepik

The journey to homeownership is a path laden with financial considerations, especially for those balancing existing debts. As you prepare for this significant milestone in the coming 6-12 months, strategic planning and disciplined financial management are key. Navigating this landscape requires a blend of expert advice, meticulous budgeting, and innovative income strategies.

Inside this Article:

• How can you identify and eliminate extraneous spending without compromising their operational effectiveness?
• In what ways can optimizing business structures lead to increased efficiency and profitability in a competitive market?
• What innovative strategies can individuals and businesses employ to harness additional…

249 Views, 0 Comments

7 Winning Offer Tips When Buying a Home

If you've been closely watching the Santa Cruz homes for sale arena lately, you’ll agree that while it's largely exciting, it is also a bit tricky. Families love this area for its energetic community and fantastic ocean scenery. With solid infrastructure and great amenities, like top-notch schools and healthcare facilities, it’s no wonder many people want to settle here. Plus, being just a hop away from Silicon Valley means plenty of job opportunities in the tech industry. Whether you’re looking for a place to raise a family or just want to enjoy the beautiful surroundings, Santa Cruz has so much to offer!

But this high demand means there are often bidding wars, and homes for sale go off the market quickly. To ensure you get your dream home in this…

257 Views, 0 Comments

Real Estate Predictions for 2025

At the beginning of 2024, home prices across the U.S. were still climbing, but mortgage rates were at their highest in two decades. The high costs of buying a home and the shortage of available houses made many buyers think twice, leading to a decrease in market demand. As we near 2025, experts are cautiously optimistic that a slight drop in mortgage rates and a decrease in inflation could offer some relief. However, this relief will take time, and housing affordability will still be a significant problem in many U.S. markets going into 2025.

The Santa Cruz real estate market is anticipated to follow a similar path, but a few local elements set it apart. With its breathtaking natural beauty and closeness to Silicon Valley, this seaside location…

1507 Views, 0 Comments

Profile of Home Buyers and Sellers

Highlights

This year's report reveals that home buyers are struggling due to high mortgage rates averaging 7. 02 percent and rising home prices, making it hard for first-time buyers to achieve their goals. First-time buyers fell to 24 percent, a significant drop from 40 percent before 2008. The median income for first-time buyers is $97,000, while their average age is now 38.

There is a contrast in the market, as repeat buyers can offer larger downpayments, benefiting from increased housing equity. The median age for repeat buyers is 61. Many buyers, especially married couples, preferred using real estate agents and reported being satisfied with the buying process. Sellers typically sold homes at asking prices within three weeks.

Reprinted…

718 Views, 0 Comments

Santa Cruz, Santa Clara, Monterey County Real Estate Market Update

The real estate market in Santa Cruz County remains robust, with the median sale price for residential properties reaching an impressive $1.2 million over the last 90 days. This figure, based on a substantial sample size of 414 closed sales, reflects the continued high demand for housing in this desirable coastal region. Despite the lofty price point, properties are moving quickly, with a median days on market of just 21, indicating that well-priced homes in good condition are being snapped up by eager buyers. The average price per square foot now stands at $803, a testament to the premium that homebuyers are willing to pay for the lifestyle and amenities that Santa Cruz County offers. With its picturesque beaches, redwood forests, vibrant communities,…

548 Views, 0 Comments

12 Essential Tips to Prep Your Home to Sell

Imagine you've found a gorgeous new house in the Santa Cruz hills, the California coast, or the quaint hamlet of Capitola and are ready to relocate. You tell yourself, "This is such a great deal; I can't wait to move in," so you buy it. However, as you expected a swift sale of your present house, viable bidders began to back out. Suddenly, you're faced with the frightening prospect of supporting the expenditures of two residences at once. There have been examples in Santa Cruz when homeowners have had to dramatically drop their asking price to sell their present residences. It is a tough situation to be in.

To avoid this, sell one house before buying another. However, as we all know, this is only sometimes as easy as it sounds. With a few carefully…

873 Views, 0 Comments

How the Fed and Trump-era Policies Could Shape California’s Housing Market

Inside this Article:

• The Fed’s Role: Lowering Rates Amidst Economic Uncertainty
• What Does This Mean for Santa Cruz, CA's Housing Market?
• So, Should You Buy Now or Wait?

Santa Cruz County in California is a lovely place to live, with nice neighborhoods, great schools, and a close-knit community. President-elect Donald Trump has some big plans for the economy, and the Federal Reserve is also making changes to how it manages interest rates. This might lead to changes in property values. If you're thinking about buying a home in California, investing, or just keeping an eye on the local market, it's important to understand how these national decisions will impact real estate in your area.

Trump's Aggressive Policies and…

673 Views, 0 Comments

Preparation and Guidance: A Guide for First-Time Home Buyers

Buying your first home is a monumental milestone that comes with a mix of excitement and trepidation. The prospect of homeownership can feel both thrilling and totally overwhelming, especially when you're navigating the process for the very first time. Where do you even begin? How much house can you realistically afford? What type of mortgage is the best fit? It's enough to make any prospective first-time buyer's head spin.

However, with the right preparation and guidance, the journey to homeownership is completely achievable. The government offers a variety of programs specifically designed to support and empower first-time buyers, providing more lenient credit and down payment requirements, subsidized interest rates, and even grants and loans to…

724 Views, 0 Comments

Discover the Charm of Scotts Valley Homes for Sale

Inside this Article:

• Benefits of living in Scotts Valley
• Overview of the real estate market in Scotts Valley
• Types of homes available in Scotts Valley
• Factors to consider when buying a home in Scotts Valley
• Tips for finding the perfect home in Scotts Valley
• Popular neighborhoods in Scotts Valley
• Exploring amenities and attractions in Scotts Valley
• Navigating the Real Estate Market in Scotts Valley
• Conclusion: Finding your dream home in Scotts Valley

Are you dreaming of finding your perfect home in the idyllic town of Scotts Valley? Look no further! Scotts Valley offers a captivating mix of natural beauty, small-town charm, and modern amenities. With a wide range of homes for sale, this desirable community is…

649 Views, 0 Comments

Mastering Earnest Money Deposits When Buying a Home

Dreaming of a home in the picturesque City of Capitola, CA? Tucked away on the breathtaking coastline of Santa Cruz County, Capitola offers a delightful mix of charm, community spirit, and scenic views. With the vibrant atmosphere of Capitola Village, California, and the allure of coastal living, this area is especially appealing to buyers exploring Santa Cruz homes for sale. However, before diving into the Capitola and broader Santa Cruz real estate market, it’s crucial to grasp the details of earnest money deposits (EMDs). A well-structured EMD can tip the scales in your favor, especially in a market where properties are quickly snatched up.

Inside this Article:

• What is an Earnest Money Deposit (EMD)?
• Purpose of EMD
• Earned Money…

1640 Views, 0 Comments