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        <title>Real Estate Blog</title>
        <link>http://www.mysantacruzrealestate.com/blog/santa-cruz-county-market-overview/</link>
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            <guid>http://www.mysantacruzrealestate.com/blog/4-tips-to-price-your-santa-cruz-home-for-sale-like-a-pro.html</guid>
            <link>http://www.mysantacruzrealestate.com/blog/4-tips-to-price-your-santa-cruz-home-for-sale-like-a-pro.html</link>
            <author>lauren@laurenspencer.com (Lauren Spencer)</author>
            <title>4 Tips to Price Your Santa Cruz Home for Sale like a Pro</title>
            <description> <![CDATA[ 
Do you think you have a good handle on what a reasonable price would be for your Santa Cruz home for sale? In todays rollercoaster real estate market, the right price could be the difference between a quick sale and your house sitting for months without a single bite.

REALTORS are experts when it comes to housing market values. However, if youre planning on selling your house yourself, do you even know where to begin? Below are four tips the pros use to set a price that gets potential buyers in the door and still allows you to get the most money from the sale of your property.

Four tips to price your Santa Cruz home for sale like a pro:

1.&nbsp;Study your history  Take a look at what properties in your neighborhood sold for when you bought your house and then look at recent sales. Have prices increased, decreased or remained the same? This will give you a good idea of how the market value of your property might have progressed over time.

2.&nbsp;Research comparables  Check around to see what houses of similar square footage and style are actually selling for in your area. Then youll be able to get an objective idea of what your house is worth without letting attachments to self-done projects like bathroom upgrades or landscaping influence your judgment.

3.&nbsp;Tour other houses  REALTORS take the time to personally visit almost every property on the market.&nbsp; If youre going to price your home like a pro, you should tour a multitude of houses in your neighborhood.&nbsp; By going to open houses in your area, you can determine how your home stacks up to the competition. 

4.&nbsp;Consider your location  As the old adage goes, &ldquo;Real estate is all about location, location, location.&rdquo; Are you in the most desirable neighborhood? If so, you may be able to command a higher price for your house. Make sure your price reflects your neighborhood, lot and surroundings, to set a realistic price.

If you need help pricing your Santa Cruz home for sale, please call me at 831-662-6522 or email me at Lauren@LaurenSpencer.com.

For more information, please visit my website at www.MySantaCruzRealEstate.com.

Links:

Market value

Research Comparables

Square footage
 ]]> </description>
            <pubDate>Sun, 03 Apr 2011 23:01:00 -0700</pubDate>
                    </item>
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            <guid>http://www.mysantacruzrealestate.com/blog/6-santa-cruz-home-buying-new-years-resolutions.html</guid>
            <link>http://www.mysantacruzrealestate.com/blog/6-santa-cruz-home-buying-new-years-resolutions.html</link>
            <author>lauren@laurenspencer.com (Lauren Spencer)</author>
            <title>6 Santa Cruz  Home Buying New Year’s Resolutions</title>
            <description> <![CDATA[ 
If the thought of buying a Santa Cruz&nbsp; home in 2011 has even so much as flitted through your mind, here are six New Years Resolutions you should consider making:

1.&nbsp;Review your credit reports.&nbsp; To determine the interest rate and terms of your mortgage, lenders pull credit scores from each of the three credit reporting bureaus:&nbsp; Equifax, Experian and Trans-Union.&nbsp; You need to go through all three credit reports and dispute any credit report errors.

2.&nbsp;Establish a good credit rating.&nbsp; To take advantage of today's low interest rates, your credit score needs to be above 760. The higher, the better.&nbsp; To improve your credit rating, fix all errors in your credit reports and practice good credit behavior by paying your bills on time and in full each month.

3.&nbsp;Find out how much Santa Cruz&nbsp; home you can afford to buy.&nbsp; To determine this, you need to know how much money you have for a down payment and how much money you can borrow.&nbsp; The best way to know how much you can borrow is to get pre-approved for a loan.&nbsp; 

4.&nbsp;Shop around for a mortgage.&nbsp; Talk with 4 or 5 lenders before signing an application.&nbsp; Include a wide variety of mortgage providers such as a small local bank, a credit union, a mortgage broker, an online lender and a traditionally &ldquo;big&rdquo; lender such as Bank of America or Wells Fargo.&nbsp; Learn from each lender and then negotiate to get the best deal.&nbsp; 

5.&nbsp;Research the neighborhood before you buy a home there.&nbsp; Find out about the schools, the crime rate and the foreclosure rate.&nbsp; Visit the neighborhood during the day and again at night to learn whats really going on there.&nbsp; Take a walk and talk with the neighbors.&nbsp; Theyll give you the real scoop.&nbsp; Hire a real estate agent who lives and works in that neighborhood.&nbsp; 

6.&nbsp;Read and understand all documents before signing them.&nbsp; I know theyre long, boring and complicated.&nbsp; But youll be spending the next 15 to 30 years of your life paying this loan.&nbsp; Its worth the effort to read and understand everything before signing.&nbsp; If you dont understand something, ask before you sign.&nbsp;&nbsp; 

If buying a Santa Cruz&nbsp; home is on your list of things to do in 2011, let me help.&nbsp; Give me a call today at 831.662.6522 or for additional information visit my website at www.MySantaCruzRealEstate.com.

Links:

Dispute any credit report errors&nbsp;

How much Santa Cruz&nbsp; home you can afford&nbsp; 

Research the neighborhood
 ]]> </description>
            <pubDate>Wed, 26 Jan 2011 23:01:00 -0800</pubDate>
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        <item>
            <guid>http://www.mysantacruzrealestate.com/blog/santa-cruz-homes-home-equity-is-on-the-rise.html</guid>
            <link>http://www.mysantacruzrealestate.com/blog/santa-cruz-homes-home-equity-is-on-the-rise.html</link>
            <author>lauren@laurenspencer.com (Lauren Spencer)</author>
            <title>Santa Cruz Homes – Home Equity Is On the Rise!</title>
            <description> <![CDATA[ 
The news is everywhere  and its good! Those who own or want to own Santa Cruz homes can take a deep breath.&nbsp; Home equity is on the rise, according to a recent study by Zillow.com, an online real estate valuation researcher.&nbsp; And, Federal Reserve economists agree. Although home equity isnt what it was three years ago, its on the rise.

The Feds most recent &ldquo;flow of funds&rdquo; 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, thats really not that impressive. However, after three straight years of steadily dropping equities, it could signify the long awaited end of the housing crash.

In the housing markets of several cities, negative home equity is dropping; Los Angeles, San Francisco, Miami and Seattle are just a few examples. Good news for those with Santa Cruz homes, but even better news for some of the hardest hit cities, such as Phoenix, AZ, and Fort Myers, FL.

This is the best news yet for those trying to sell their homes, especially with most residential real estate markets' busiest season coming up. Rising home equity means the high possibility of more interested buyers. As well, a few things have been happening over the past couple of months that just might be the beginning of a run on housing sales:

&bull;&nbsp;Median home prices are rising slowly but surely; potential homebuyers are getting a little more serious. Rather than wait for a cheaper house, theyre starting to realize that it might not get any cheaper.

&bull;&nbsp;The housing supply is shrinking. At the peak, we had 11 months worth of back supply. By the end of 2009, we were down to 7.2. 

&bull;&nbsp;30 year fixed mortgages dropped to the lowest point of 4.95% (median), and are now slowly on the rise. Buyers waiting for lower mortgage rates  just like those waiting for lower housing prices  are getting serious about buying now.

Last and most importantly, consumer confidence is growing  something we badly need to get the economy on track.

Whats the moral of the story? If your house is one of the Santa Cruz homes up for sale and youve been sick with worry that it might not get taken off the block, take a deep breath. Things are getting better and, if you hang in there, may end up better than you hoped.

If youre trying to sell your home, I can help. Call me at 831.662.6522 or email me at Lauren@LaurenSpencer.com for more information.

Links: 

Most recent flow of funds survey

residential real estate markets

30 year fixed mortgages

&nbsp;
 ]]> </description>
            <pubDate>Mon, 22 Mar 2010 23:01:00 -0700</pubDate>
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        <item>
            <guid>http://www.mysantacruzrealestate.com/blog/market-trend-report-for-december-2009.html</guid>
            <link>http://www.mysantacruzrealestate.com/blog/market-trend-report-for-december-2009.html</link>
            <author>lauren@laurenspencer.com (Lauren Spencer)</author>
            <title>Market Trend Report for December 2009</title>
            <description> <![CDATA[ 

&nbsp;Trends At a Glance

Dec 2009

Previous Month

Year-over Year

Median&nbsp;Price

$560,000

$550,000&nbsp;(+1.8%)

$450,000&nbsp;(+24.4%)

Average&nbsp;Price

$607,159

$626,278&nbsp;(-3.1%)

$527,657&nbsp;(+15.1%)

No.&nbsp;of&nbsp;Sales

144

141&nbsp;(+2.1%)

117&nbsp;(+23.1%)

Pending Properties

221

286&nbsp;(-22.7%)

154&nbsp;(+43.5%)

Active

467

553&nbsp;(-15.6%)

974&nbsp;(-52.1%)

Sale&nbsp;vs.&nbsp;List&nbsp;Price

98.1%

97.4%&nbsp;(+0.7%)

96.3%&nbsp;(+1.9%)

Days&nbsp;on&nbsp;Market

78

83&nbsp;(-6.0%)

74&nbsp;(+4.6%)

&nbsp; 

Median Home Price Ends Year at Highest Level Since August 2008



The median price of single-family, re-sale homes in Santa Cruz County reached $560,000 in December, a gain of 24.4% compared to December 2008.Home sales were up 23.1% year-over-year.We expect sales to be strong through the Spring selling season because of the extension, and expansion, of the first-time home buyers tax credit of $8,000 for buying a principal residence. First-time buyer is a buyer who has not owned a principal residence in the three-year period prior to the purchase. There are some income limits. For full information, see: http://federalhousingtaxcredit.com.In addition, the tax credit was expanded to include move-up buyers. The tax credit for move-up buyers is $6,500.&nbsp; A move-up buyer is a person who has owned and resided in the same home for at least five consecutive years of the eight years prior to the purchase date. Again, for full info, see the web site cited above.P.S. The tax credit expires April 30th. You need to have a signed contract by then and close the sale within 60 days to qualify for the credit.

 ]]> </description>
            <pubDate>Thu, 04 Feb 2010 14:36:15 -0800</pubDate>
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        <item>
            <guid>http://www.mysantacruzrealestate.com/blog/santa-cruz-county-home-prices-continued-to-rise-in-may.html</guid>
            <link>http://www.mysantacruzrealestate.com/blog/santa-cruz-county-home-prices-continued-to-rise-in-may.html</link>
            <author>lauren@laurenspencer.com (Lauren Spencer)</author>
            <title>Santa Cruz County Home Prices Continued to Rise in May</title>
            <description> <![CDATA[ 
&nbsp;The median price for single-family, re-sale homes rose 4.7% from April.&nbsp; The median price was off 23.9% year-over-year. The average price fell 9% month-over-month, and was down 30.2% compared to last May.

Sales of single-family, re-sale homes were up, year-over-year, by 10.3% in May. Year-to-date, home sales are up 21%.

Inventory was down 39.8% from last May. This is the thirteenth month in a row inventory has declined year-over-year.

The drop in inventory and the rise in sales combined to push our Days of Inventory indicator down 21 days to 156 days. In a balanced market, the supply of homes is usually around five to six months. For condos, the indicator rose thirteen days to 172 days.

The sales price to list price ratio rose 0.8 of a point to 98%.

Pending sales, a leading indicator, were up 35.1% year-over-year.

Condo sales were up 3.4% year-over-year. Year-to-date, condo sales are up 28.3%.

The median price for condos rose 17.5% from the month before, but was down 9.2% compared to last May.

Condo inventory was down 34.4% compared to March 2008.

Pending sales for condos is up 25% year-over-year.

The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or property, call me at 831.662.6522 or e-mail me at lauren@laurenspencer.com 
 ]]> </description>
            <pubDate>Fri, 19 Jun 2009 13:20:20 -0700</pubDate>
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