Real Estate Update for Santa Cruz Home Sellers and Buyers
Posted by Lauren Spencer on
2009 was a rough stretch for many Santa Cruz home sellers and buyers, but new reports hint at possible stabilization in the housing market that may prove beneficial for everyone. As 2009 rolled to a close and 2010 opened into a new year, economic and real estate reports poured out good news, but bad news wasn’t far behind. For each positive note, there is always that unavoidable “but”:
• Mortgage rates are holding steady below 5%, thanks to government intervention. Thanks to the low rates, more people are buying and refinancing. However, the downside is that banks are more reluctant to refinance or loan. This leaves many, who want to buy a Santa Cruz home, with the inability to do so. Ironic that, in a buyer’s market, it’s the banks with all the selling…
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