Governmental and non-governmental constraints on housing in Santa Cruz County.

Staging is a must when selling a home. It is a must because it helps us sell our homes faster and helps us sell them for the highest price possible. And the best part of staging is that it doesn’t take a lot of your time and money – all it takes is following real estate trends and a little bit of creativity. So, stage your home, move out, and let the real estate agent do the rest! However, we understand that it is not always possible to move out before selling your home, so that raises the question – can we live in a home during a sale? The answer is YES! You just have to know all the tips and tricks on how to stage your home for sale while living in it!

Declutter and Downsize Your Belongings 

Nobody likes decluttering. Nobody wants to get rid of…

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If you want to make the best possible home purchase or real estate investment, you can’t just consider a property on its own. Instead, it’s important to account for the hidden factors that influence home values!

If you want to make the best possible home purchase or real estate investment, you can’t just consider a property on its own. Instead, it’s important to account for the hidden factors that influence home values!

Historical significance of the area

When considering the area’s historical significance in relation to home values, it’s important to recognize the allure of living amidst rich histories. Homes with historical significance often carry a certain charm that draws buyers seeking a connection to the past. However, it’s crucial to note…

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If you haven’t noticed, inventory in the real estate market feels like it’s getting tighter and tighter (because it is). It’s not a localized issue; it’s being seen across most housing markets in the country. However, it’s particularly prevalent in California.

This article will discuss how interest rates became so high and how buyers and sellers should approach this market.

California’s Housing Crisis: Fewer Residents, More Households

California’s housing crisis is no secret. We have too many households, too much demand, and insufficient new inventory. While over the last decade, California lost nearly 800,000 residents, the number of households has increased by over 800,000. How? Well, because fewer people are spreading across more…

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The County of Santa Cruz Board of Supervisors adopted the November 14, 2023 (see documents below) and has been forwarded to the California Department of Housing and Community Development for certification, a 60-day process.

Housing development is affected by public regulations and other forces. This chapter discusses governmental and non-governmental constraints on housing in Santa Cruz County. Governmental constraints include policies, requirements, or other actions by various government levels that affect land ownership, housing ownership, and development. In addition to local standards, the County follows state building and design laws, the Uniform Building Code, Subdivision Map Act, energy conservation requirements, and other regulatory…

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California Single-Family Homes Average Price & Forecasted Price for 2021, 2022, and 2023

The Federal Reserve Has Spoken

Interest rates are holding steady for now. But hints of future rate cuts suggest brighter days ahead for homebuyers.

Last Wednesday, the Federal Reserve announced its plan to maintain the federal funds rate at current levels. However, it predicts up to three rate cuts in 2024 if inflation keeps creeping toward the 2% target. This forecast signals potential rate relief on the horizon.

What does this mean for prospective homebuyers? Simply put, lower rates. The Fed doesn’t directly set mortgage rates, but its management of the federal funds rate influences lenders’ decisions. So, if the predicted 0.75% in cuts comes to fruition, spread across three meetings next year, mortgage rates could take a sizable dip.

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831 Water Street, Santa Cruz rendering

Under SB 423, all the provisions of SB 35 will be extended until 2036 and expanded to cover mixed-income housing developments.

In September 2017, the state enacted SB 35 to increase affordable housing. There is potential disagreement between the state’s requirements and the desires of the local community.

To be eligible for streamlining, the project must meet all of the following criteria: Affordability: At least 50% of the proposed residential units must be dedicated as affordable to households at 80% AMI for either rental or ownership projects.

The Housing Accountability Act bars cities from rejecting projects or decreasing density based on “objective standards.” Furthermore, the state has recently upped the density bonus — a reward system…

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If you’ve been sitting on the sidelines hoping for interest rates to drop or home prices to become a little more affordable, then I hate to be the bearer of bad news, but you’re going to be waiting a long time.

Much like many markets across US metropolitan areas, the Bay Area housing market has been in a state of freeze. Sellers are unmotivated to sell, as they’d be pushed into much higher interest rates upon repurchase, and buyers are struggling to cope with high interest rates.

As discussed in our previous article, interest rates and inventory in the Santa Cruz housing market are making it difficult to transact and holding housing prices high. What’s going to happen when rates inevitably drop?

Due to extreme supply constraints, we can…

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