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        <title>Real Estate Blog</title>
        <link>http://www.mysantacruzrealestate.com/blog/santa-cruz-county-sale-pricelist-price-ratio/</link>
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            <guid>http://www.mysantacruzrealestate.com/blog/ditch-the-9s-when-pricing-your-santa-cruz-real-estate.html</guid>
            <link>http://www.mysantacruzrealestate.com/blog/ditch-the-9s-when-pricing-your-santa-cruz-real-estate.html</link>
            <author>lauren@laurenspencer.com (Lauren Spencer)</author>
            <title>Ditch the 9s When Pricing Your Santa Cruz Real Estate</title>
            <description> <![CDATA[ 
Most, if not all, Santa Cruz real estate buyers begin with an Internet property search. Even buyers who are working with real estate agents start the weed-out process on the Web. 

Because real estate has such a strong virtual presence these days, smart internet marketing (including price setting) is an absolute must for selling your home quickly.&nbsp; Here are a few pricing techniques to maximize the number of potential buyers who find your home when they search for Santa Cruz real estate online:

&bull;&nbsp;The theory of 9s - Most real estate search engines have parameters that filter listings based on $25,000 or $50,000 price blocks. For instance, you can search for houses valued $150,000-$200,000 or $200,000-$250,000. Many sellers dont seem to take this into account. Instead, properties are listed using the same marketing techniques that grocery stores use to sell you a gallon of milk &mdash; they use a lot of 9s in the pricing to make it look less expensive. However, todays buyers arent going to be fooled by that system. 

&bull;&nbsp;How to span markets - While you might think listing your house for $399,900 will make buyers see your home as a bargain, you might actually be losing out on a lot of interested buyers. When buyers search for houses from $400,000-$450,000, your property wont show up, so youd be better off upping the price a little to $400,000. Then youll expand your potential buyer base because it will show up in property searches priced $350,000-$400,000 AND searches priced $400,000-$450,000. 

&bull;&nbsp;The pros and cons of under-pricing your home - If youve priced your property somewhere in the middle, like at $309,000, common sense might tell you that lowering the price $9,000 to price it at $300,000 would be undervaluing it. However, getting many more buyers through the door will certainly help your property sell faster. While I do not recommend purposely under-pricing your home, if you did happen to undervalue it, buyers will notice and you might end up with a multiple-offer situation allowing you to get even more from your property.

Dont resort to out-dated marketing tricks that might actually be hurting your chances of a fast sale at top dollar. 

If you need help pricing your Santa Cruz real estate, I can help.&nbsp; Call me today at 831-662-6522 or email me at Lauren@LaurenSpencer.com for more information. 

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

&nbsp;

Links: 

Internet property searchLink to the property search on your website

Under-pricing your homehttp://www.frontdoor.com/Sell/Frontdoors-Guide-To-Pricing-Your-Home-Tips-And-Advice-To-Avoid-Pricing-Mistakes-And-Sell-Your-Home-Quickly/55038 

Multiple-offer situationhttp://www.totalmortgage.com/home-purchase/home-buying-tips-multiple-offers.asp 
 ]]> </description>
            <pubDate>Wed, 11 May 2011 23:01:00 -0700</pubDate>
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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>
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            <guid>http://www.mysantacruzrealestate.com/blog/pending-home-sales-on-a-record-roll.html</guid>
            <link>http://www.mysantacruzrealestate.com/blog/pending-home-sales-on-a-record-roll.html</link>
            <author>lauren@laurenspencer.com (Lauren Spencer)</author>
            <title>Pending Home Sales on a Record Roll</title>
            <description> <![CDATA[ 
Contract activity for pending home sales has risen for six straight months, a pattern not seen in the history of the index since it began in 2001, according to the National Association of Realtors.

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in July, increased 3.2 percent to 97.6 from a reading of 94.6 in June, and is 12.0 percent higher than July 2008 when it was 87.1. &nbsp;The index is at the highest level since June 2007 when it was 100.7.

Lawrence Yun, NAR chief economist, said the housing market momentum has clearly turned for the better. &nbsp;&ldquo;The recovery is broad-based across many parts of the country. &nbsp;Housing affordability has been at record highs this year with the added stimulus of a first-time buyer tax credit,&rdquo; he said.

&ldquo;Other buyers are taking advantage of low home values before prices turn higher. &nbsp;Nationally, the typical mortgage payment now takes less than 25 percent of a middle-income familys monthly income to buy a median priced home, with payment percentages so far in 2009 being the lowest on record dating back to 1970. &nbsp;As long as home buyers stay within their budget, mortgage payments will be very manageable,&rdquo; Yun said.

NAR estimates that about 1.8 to 2.0 million first-time buyers will take advantage of the $8,000 tax credit this year, with approximately 350,000 additional sales that would not have taken place without the credit. &nbsp;Buyers have little time to act because they must complete the transaction by November 30 to qualify for the credit. &nbsp;Unless extended, contracts signed but not completed by that date will not be eligible  it is taking approximately two months to complete home sales in the current market.

The Pending Home Sales Index in the Northeast declined 3.0 percent to 78.8 in July but is 4.7 percent higher than July 2008. &nbsp;In the Midwest the index slipped 2.0 percent to 88.1 but is 8.1 percent above a year ago. &nbsp;In the South, pending home sales activity rose 3.1 percent to an index of 103.8 in July and is 12.0 percent above July 2008. &nbsp;In the West the index jumped 12.1 percent to 112.5 and is 20.0 percent above a year ago.

NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth, said Congress needs to keep the momentum going. &nbsp;&ldquo;Even with a good recovery taking place, the market is not yet back to normal. &nbsp;With a gradual absorption of inventory, we are on the cusp of a general stabilization in home prices,&rdquo; he said.

&ldquo;To ensure that housing has a broad stimulus to the overall economy and stays on sound footing, were encouraging Congress to extend the tax credit into 2010, and to expand it to all buyers of primary residences. &nbsp;The faster we stabilize home prices, the fewer families will face foreclosure and the quicker credit can be extended to other sectors of the economy,&rdquo; McMillan said.

NARs Housing Affordability Index stood at 158.5 in July, below the peak set in April but is still 36.0 percentage points higher than a year ago. &nbsp;The HAI is a broad measure of housing affordability using consistent values and assumptions over time, which examines the relationship between home prices, mortgage interest rates and family income.









Yun expects existing-home sales to rise through the fourth quarter. &nbsp;&ldquo;Unless the tax credit is extended, no one should be surprised to see home sales drop in the first quarter of next year,&rdquo; he said. &nbsp;&ldquo;However, the fundamentals of the housing market and the economy are trending up, and we expect home sales to generally pick up in the second quarter of 2010. &nbsp;The buyer psychology may be shifting from, &lsquo;Why buy now when I can purchase later, to &lsquo;I dont want to miss out on a recovery.&rdquo;



Contract activity for pending home sales has risen for six straight months, a pattern not seen in the history of the index since it began in 2001, according to the National Association of Realtors.

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in July, increased 3.2 percent to 97.6 from a reading of 94.6 in June, and is 12.0 percent higher than July 2008 when it was 87.1. &nbsp;The index is at the highest level since June 2007 when it was 100.7.

Lawrence Yun, NAR chief economist, said the housing market momentum has clearly turned for the better. &nbsp;&ldquo;The recovery is broad-based across many parts of the country. &nbsp;Housing affordability has been at record highs this year with the added stimulus of a first-time buyer tax credit,&rdquo; he said.

&ldquo;Other buyers are taking advantage of low home values before prices turn higher. &nbsp;Nationally, the typical mortgage payment now takes less than 25 percent of a middle-income familys monthly income to buy a median priced home, with payment percentages so far in 2009 being the lowest on record dating back to 1970. &nbsp;As long as home buyers stay within their budget, mortgage payments will be very manageable,&rdquo; Yun said.

NAR estimates that about 1.8 to 2.0 million first-time buyers will take advantage of the $8,000 tax credit this year, with approximately 350,000 additional sales that would not have taken place without the credit. &nbsp;Buyers have little time to act because they must complete the transaction by November 30 to qualify for the credit. &nbsp;Unless extended, contracts signed but not completed by that date will not be eligible  it is taking approximately two months to complete home sales in the current market.

The Pending Home Sales Index in the Northeast declined 3.0 percent to 78.8 in July but is 4.7 percent higher than July 2008. &nbsp;In the Midwest the index slipped 2.0 percent to 88.1 but is 8.1 percent above a year ago. &nbsp;In the South, pending home sales activity rose 3.1 percent to an index of 103.8 in July and is 12.0 percent above July 2008. &nbsp;In the West the index jumped 12.1 percent to 112.5 and is 20.0 percent above a year ago.

NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth, said Congress needs to keep the momentum going. &nbsp;&ldquo;Even with a good recovery taking place, the market is not yet back to normal. &nbsp;With a gradual absorption of inventory, we are on the cusp of a general stabilization in home prices,&rdquo; he said.

&ldquo;To ensure that housing has a broad stimulus to the overall economy and stays on sound footing, were encouraging Congress to extend the tax credit into 2010, and to expand it to all buyers of primary residences. &nbsp;The faster we stabilize home prices, the fewer families will face foreclosure and the quicker credit can be extended to other sectors of the economy,&rdquo; McMillan said.

NARs Housing Affordability Index stood at 158.5 in July, below the peak set in April but is still 36.0 percentage points higher than a year ago. &nbsp;The HAI is a broad measure of housing affordability using consistent values and assumptions over time, which examines the relationship between home prices, mortgage interest rates and family income.

Yun expects existing-home sales to rise through the fourth quarter. &nbsp;&ldquo;Unless the tax credit is extended, no one should be surprised to see home sales drop in the first quarter of next year,&rdquo; he said. &nbsp;&ldquo;However, the fundamentals of the housing market and the economy are trending up, and we expect home sales to generally pick up in the second quarter of 2010. &nbsp;The buyer psychology may be shifting from, &lsquo;Why buy now when I can purchase later, to &lsquo;I dont want to miss out on a recovery.&rdquo;
 ]]> </description>
            <pubDate>Thu, 24 Sep 2009 12:34:10 -0700</pubDate>
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            <guid>http://www.mysantacruzrealestate.com/blog/santa-cruz-county-sale-pricelist-price-ratio.html</guid>
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            <author>lauren@laurenspencer.com (Lauren Spencer)</author>
            <title>Santa Cruz County Sale Price/List Price Ratio</title>
            <description> <![CDATA[  ]]> </description>
            <pubDate>Thu, 25 Jun 2009 09:01:00 -0700</pubDate>
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