Santa Cruz County Market Barometer

From national and Santa Cruz County real estate to the U.S. economy, the predictions for 2011 are in.  Like any predictions, they vary from gloomy to cheery.  Overall, the U.S. forecasts for national and Santa Cruz County real estate are more positive than negative for 2011.

1. Real Estate Economy Watch predicts:  People are interested in buying a foreclosure.  Nearly half (49 percent) of U.S. adults are at least somewhat likely to consider purchasing a foreclosed property, up from 45 percent in May, 2010. Despite the rising interest in buying a foreclosed home, an increasing number of U.S. adults also recognize negative aspects to buying a foreclosure.

2. Bill Redfern, CEO of A Buyer’s Choice Home Inspections says:  Presale inspections are on the…

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The news is everywhere – and it’s good! Those who own or want to own Santa Cruz homes can take a deep breath.  Home equity is on the rise, according to a recent study by Zillow.com, an online real estate valuation researcher.  And, Federal Reserve economists agree. Although home equity isn’t what it was three years ago, it’s on the rise.

The Fed’s most recent “flow of funds” survey indicates that the net equity of national homeowners grew by almost $1 trillion over the first three quarters of 2009, and rose further by $418 billion between June and September of last year. Compared to before the bubble popped, that’s really not that impressive. However, after three straight years of steadily dropping equities, it could signify the long awaited end of the…