Santa Cruz Homes for Sale: A Case of Cold Feet

Posted by Lauren Spencer on Wednesday, August 11th, 2010 at 11:01pm.

While those who own Santa Cruz homes for sale are worried about the real estate market, some buyers are getting good deals. However, there are plenty of people on both sides of the market with a case of cold feet.

For instance, some with Santa Cruz homes for sale took them off the market. Others, who’ve thought of selling, haven’t.

The same can be said for buyers. Many potential homebuyers change their minds or still worry over that age-old question of, “Should I or shouldn’t I?”

Two Cases of Cold Feet
A 26-year old with a steady job, good paycheck and good credit, sums it up for many potential buyers. “My job’s steady and my credit is good.  I keep watching the houses that go up for sale, thinking I could go ahead and buy, but then the ‘what if’s’ pop into my head.  I don’t want to miss this opportunity to get a great deal and lock in a low interest rate, but there are so many unknowns…”

A former seller shares why he took his home off the market. “My wife and I decided to sell and went through the process of hiring an agent. The agent suggested having someone come in and redecorate the house. While we were looking for another place, we kept coming back to this beautiful home and started remembering what we really liked about it in the first place.”

He went on to say, “We also started thinking about all the things we no longer had to deal with. We own this home, but if we bought another one, we’d have to take out a mortgage. Our house started looking better and better. Turns out we didn’t need to move; we just needed to redecorate.”

Should I or Shouldn’t I?
Should you buy a home? Should you sell the home you own? Only you can really answer that question. For the buyers, however, if you can afford a home of your own but are holding off for lower prices, you could end up missing out. Home prices and mortgage rates are already at all-time lows; this may be as good as it gets.

For sellers, consider why you want to sell your home. Is it too small? Too big? Would remodeling turn it back into your dream home? Or – do you really need to sell your home for some reason?

Putting your Santa Cruz home up for sale or buying a new home should never be a spontaneous decision. Before you do either, take stock of your finances and reasons.

If you’d like to sell your home or find a home to buy, I can help. Call me today at 831.662.6522 or email me at Lauren@LaurenSpencer.com for more information.

Links:

Homebuyers change their minds

Mortgage rates

Remodeling

About Lauren Spencer

Award-Winning Santa Cruz REALTOR®

Lauren Spencer is your local real estate expert, specializing in Santa Cruz real estate and surrounding communities—this is where she lives, works, and plays too. Let her know your questions about the community and county and she'll be happy to fill you in on all you want to know! Lauren Spencer has consistently been voted best local REALTOR in Santa Cruz and is always happy to offer her advice and expertise. Call her at: 800.226.4717.

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