Santa Cruz Real Estate Blog - Buying Real Estate

What are the New Real Estate Trends?

The real estate market is so much more than just buying and selling homes—it's about understanding the stories behind the trends and how they impact the way we live, work, and invest. Currently, one of the most significant talking points is mortgage rates. With rates climbing higher than we've seen in years, affordability has become a real challenge, leaving some buyers hesitant to take the plunge. But that's only part of the picture.

In Santa Cruz County, we're seeing significant changes in what buyers want. Take the rise of remote work: it's made places like Scotts Valley and Santa Cruz popular for people who want both nature and modern life. Also, after the recent wildfires, people are looking for homes that are not only nice but also safe and…

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Buying a House Before Selling Your Old One: Key Mistakes to Avoid

What are some common mistakes homeowners make when deciding to buy a new house before selling their current one?

Thinking about buying a home before selling your current one? You’re not alone—it’s a common consideration, especially in the competitive Santa Cruz real estate market and its nearby charming towns like Scotts Valley and Capitola. Whether you're after more space, a change of scenery, or a job relocation, securing your next home first might seem like the best solution.

But before you take the plunge, you must understand the potential risks. Buying and selling at the same time isn’t as easy as it sounds. While it’s possible, it requires a thoughtful strategy, a solid understanding of the market, and expert guidance to make it work.…

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Is 2025 the Right Time to Buy Your Dream Home

Inside this Article:

• What to Expect From the 2025 Housing Market in Santa Cruz County
• Is 2025 the Right Time to Buy a Home?

As we begin 2025, it was just a while ago that the Federal Reserve made its third consecutive interest rate cut of the year. On December 18, 2024, the Fed reduced the federal funds rate by 0.25 percentage points, bringing it back down to a range of 4.25-4.5%, a level not seen since late 2022 and early 2023. While inflation has cooled somewhat over the past two years, home prices have remained stubbornly high, especially in desirable areas like Santa Cruz. With the presidential election now behind us, history suggests that home sales typically get a small boost in the wake of an election, regardless of…

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What is a Good Credit Score When Buying a Home?

“Homes for sale in cities within California,” “Santa Cruz homes for sale with a low credit score,” or “Best homes for sale in Soquel, CA"—sound familiar? If you're residing in California, you'll often come across these targeted ads, making the home-buying process seem like a breeze. Finding your dream home in Santa Cruz can be more challenging than it seems, especially without expert guidance. Finding the ideal house is only part of the process; you must also grasp credit ratings, mortgage regulations, and real estate lingo, among other things. To handle these complications, you must seek appropriate guidance. While tempting loan and home advertisements might promise financing for buyers with poor credit, the truth is that navigating the Santa Cruz…

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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…

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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…

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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…

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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,…

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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…

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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…

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