Waiting for Prices to Plummet on Homes for Sale in Santa Cruz May Be a Mistake

Posted by Lauren Spencer on Friday, October 13th, 2000 at 4:00pm.

If you’re looking at homes for sale in Santa Cruz, want to buy a home and are waiting around for better prices, you might want to rethink your strategy.

If you’re a market watcher, soaking up the information overload across news media and Internet websites, you’re probably overwhelmed with confusion by now. Is the housing market getting better? Is it getting worse? Was there really, when it gets down to it, a housing bubble collapse? And, if so, who popped it?

First, the quick answers. Yes, the housing bubble collapsed, and everybody had a hand in popping it: the government, the lenders, the investors and the general public. Now the hard answers: it’s getting better – and worse.

The truth is that market predictors are all on the fence. With the ARRA (American Recovery and Reinvestment Act) giving first-time homeowners some incentive to buy homes for sale in Santa Cruz and elsewhere, there has been a steady increase of sales. However, once the tax credit deadline hits at the end of this month, the numbers are once again expected to drop.

Real Estate Trends Across the Nation

Again, though, it’s better and worse. While the housing market is still dropping in some areas, such as the southeast in Mississippi, Alabama and so forth, there are definitely some strong markets in the country.

For instance, Boulder, Colorado holds 60% of the share of increasing home values. The average value is about $350,000, but there’s a limit in place on the number of homes allowed in the area. In Binghamton, New York, the average value of a home is around $112,000. They also have a housing limit, which means a small supply, so prices probably aren’t going to plummet.

Just because this is a buyer’s market, doesn’t mean you’ll get the exact price you’re looking for. If you want to buy a home and you’re waiting around for the prices of homes to plummet into a “sweet deal,” make sure you don’t wait yourself into an expensive mistake. 

Educate Yourself About the Market

Instead of checking market forecasts, potential homebuyers need to look at things the way we always should have. Ask yourself, do I want to buy a house? Can I afford one of the homes for sale in Santa Cruz the way things are now? By researching, crunching numbers and answering the important questions, you’ll find the sweetest deal you could ever have: a wonderful house you can afford. If you're still unsure, that's where a Santa Cruz real estate specialist comes in. With over 30 years of experience working directly in Santa Cruz and surrounding communities, I'm happy to lend my expert opinion about when and where the best places are to invest in today's market. 

If you’re looking for a place to call your own, I can help. Call me at 831.662.6522 or email me at lauren@laurenspencer.com for more information.

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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