The Real Estate Report

If you’re thinking about buying a townhome in the coming months, then we have exciting news for you! A new townhome community has just been announced in Scotts Valley, which will bring 20 beautiful new condos to Lundy Lane near Hocus Pocus Park. The project was originally planned for 2011, however the economic decline had investors worried about its success. Now, with a thriving economy and bustling real estate market, the original developer is excited to make this long-time vision a reality, and it couldn’t come soon enough.

Santa Cruz developer, Brooks Properties, who recently completed De Laveaga Park in Santa Cruz, is spearheading the project in collaboration with Bill Kempf, a local architect who also designed the Pinnacle View townhome

Where Are All The Homes For Sale In Santa Cruz?

While home prices continue to rise, homeowners who were once thinking about capitalizing on the value of their home are reconsidering the idea. A study from the California Association of REALTORS® found that more than one-third of California homeowners have thought about selling their home in the past year in an attempt to cash in on the boom, but a majority of them weren't able to afford another home if they sold the one they had. In addition to the affordability crunch, the higher property taxes are another factor that's keeping residents in their current homes.

In the first quarter of 2012, when housing in California was the most

According to Remodeling Magazine’s 2010-2011 Remodeling Cost vs. Value Report, nine out of the top 10 most cost-effective projects (based on value recouped) are exterior replacement projects.  Here are the four most cost-effective exterior replacement projects:

1. Steel entry door replacement.  This project returned the most money, with an estimated 102.1 percent of cost recouped when the Santa Cruz homes were resold.  It’s the only project in this year’s report that is expected to return more than the cost. 

2. Midrange garage door replacement.  This is the first year this project ranked high enough to make it into the report.  It’s expected to recoup 89.9 percent of costs.  According to the report, a “midrange” price for a garage door replacement is

Do you know how closing costs actually work? Or, how you’d use CMAs (comparative market analysis) to evaluate Santa Cruz real estate? And, can you decipher all of the abbreviations and acronyms, such as FDR, lo dues and MLS.

Purchasing a home is frustrating enough without having to go through the frustration of decoding all the complicated speak and legalese. If you brush up with a real estate dictionary before your home-buying search, you’ll gain valuable knowledge and save yourself a lot of time and headaches in the long run.

Basic lingo every Santa Cruz real estate buyer or seller should know …

• ARM – This stands for Adjustable-Rate Mortgage, which is a type of mortgage where the interest rate periodically adjusts.

• Closing costs – These are

If you’re like me and other real estate agents, home sellers, homebuyers and homeowners, you’re always looking for a great resource for information on the Santa Cruz real estate market. You have questions and you want answers.

• What are the mortgages like in this area?
• What are the current selling prices for homes?
• What’s a specific neighborhood like?
• Is there anything besides the economy affecting the Santa Cruz real estate market?

For instance, you want to know current market trends. Are they stabilizing? Are things still sliding down hill? Is there a buying trend sellers can take advantage of to market their homes? While a professional real estate agent will help you sell or find a home, it doesn’t hurt for you to do some research on your own

Nothing makes a Santa Cruz home for sale look better than a new coat of paint.  Many people are intimidated by the thought of painting the exterior of their home, and hire someone else to do it.  But, you can do it yourself, with these easy steps:
 
Getting Your House Ready to Paint
The first thing that you’ll need to do is inspect the house.  Look at all the walls, under the eaves and around the doorframe and windows.  Check for peeling paint, mildew and rough surfaces.
You’ll need to gather a few tools before getting to the repairs and putting your Santa Cruz home up for sale:

• Power-washer
• 2-3” inch putty knife
• 2-3” inch pull scraper
• Wire brush
• Sander 
• Chlorine bleach

Preparing the Surface
Power-wash the walls so you'll have a clean surface.  You

 The national real estate market, state markets and city markets all seemed to be wrapped up in a nifty bundle that effect whether your Santa Cruz home for sale will have a buyer. With the news reports over the last two years about the pop of the housing bubble, homeowners everywhere essentially lost their minds.

Here are a few examples:

• Some homeowners panicked and immediately put their houses up for sale
• Some homeowners chose to walk away from it all, leaving their homes vacant and mortgages in default
• Some homeowners went into a flurry of home renovations, with the idea of selling
• National and Santa Cruz home for sale listings shot through the roof

The amazing thing isn’t that the real estate market seems to be stabilizing – that’s not the

A Seller’s Market? Hard to believe, but many homes drawing multiple offers again as listing shortages continue

My how things have changed in just one year! A year ago at this time, many homes were languishing on the market as buyers stayed on the sidelines, worrying about their jobs, the sharp decline in their 401k accounts, and whether housing prices would ever rise again. Today, many of those buyers have swallowed their fears and are out in force once again, spurred by an improving economy, a solid recovery in the financial markets, and federal home buyer tax credits that will expire this spring.

While no one claims the housing market is out of the woods yet, an unusual dynamic is occurring in many communities around the Bay Area:  Despite the choppy