Santa Cruz Shelter in Place 2020: Day 114 & Day 115

Santa Cruz Shelter in Place 2020: Day 114

On Day 114 of the Shelter in Place here in Santa Cruz, I caught a wave and my friend Sara got it on video!! Now we are really becoming a surfing family and I love it. Ellia says that I have to work on my paddling, but besides that, I am pretty good!

And after the morning surf session, I was all fired up and I was loving the natural beach wave in my hair! AND we just closed a deal at 104 McMillan Drive! It was an awesome deal to do with a dear associate of mine, Linda Scott. During the negotiation process, we were able to get the money side of the deal to work well for both the buyers and sellers. I love when both parties walk away feeling happy! And now I am so excited for my buyers to enjoy their new home!

And later on, I met with a potential seller and I am super excited because now we have a new listing over in San Jose! It’s a cute 2 bed, 2 bath, 1,000 square foot unit for right around $900,000. I’ll keep you posted on that one!

Santa Cruz Shelter in Place 2020: Day 115

On Day 115 of the Shelter in Place here in Santa Cruz I spent the morning walking with my friend, Lauren, while my family went out and surfed. After my walk, I had appointments all morning and got to drop off a closing gift for my clients for a transaction that just closed. I am still a workin’ girl, despite my new found love for surfing.

Later on, I went to check out Radius Gallery, which my friend Ann, owns and runs. They have a really cool current exhibit is called From a Whale’s Back. And Ann showed me her rough draft of a coloring book project that she’s been working on. Local artists were commissioned to make sweet little drawings about the San Lorenzo River. You can get one for yourself at BookShop Santa Cruz and the Public Library Downtown.

And I ended the day unboxing our beautiful new copper shower head that we ordered for our outdoor shower! I am so excited to have our outdoor shower complete! I hope that you are having an amazing summer! Stay happy and healthy!

Real Estate Update Time:

We’ve seen quite a few new listings come on the market this week, more and more each week. We are about 2.7 months of absorption rate. Which means that it would take 2.7 months for all of the inventory that’s on the market right now, to sell. So, that’s still considered a seller’s market. But despite all that, my client who owns 4300 Soquel Drive #226 is wanting to sell now! And we’ve reduced that property to $379,000, which is a really good deal. It’s in Alimur Park, which is a resident owned park, and the home is absolutely stunning with high ceilings, and it’s light and bright. Check out the Queen Bee Home Tour video of this home, which was entirely my daughter’s idea.

After a pause during shelter-in-place orders, the housing market has rebounded—and then some. The lack of homes on the market hasn’t discouraged buyers from descending en masse, hoping to escape small, city apartments and cramped starter homes while taking advantage of record-low mortgage interest rates. The continued rebound in pending home sales suggests that the real-estate market is thriving in spite of the continued rise in COVID-19 cases across the country.

The homeownership rate reached 67.9% in the second quarter of 2020, according to a recent report from the U.S. Census Bureau. That’s up from 65.3% of Americans owning their residences in the first quarter of the year and 64.1% in the second quarter of last year. Therefore, homeownership rates have surged during this pandemic.

And buyers are in more of a rush to buy a home than they have in the past. Last year, buyers looked at an average of nine homes before making a home purchase. Now, they’re looking at three to four homes before initiating a contract. “Buyers are fast-forwarding their transactions,” Jessica Lautz, NAR’s vice president of demographics and behavioral insights, says. Homes are selling in an average of 24 days. And what buyers value in a home has shifted since the pandemic. More buyers are placing value on homes with at-home office spaces and large outdoor areas.

If you have any specific questions about the real estate market in Santa Cruz, I would love to chat with you. And stay tuned for some exciting new listings that Fox Realty Group will be putting on the market in the near future!

If you are currently wondering what the Santa Cruz Housing Market is doing during the Coronavirus Pandemic, feel free to reach out to me. I’d be happy to answer any questions that you may have. But on March 28th, President Trump updated the essential business list and added Residential Real Estate. Meaning, that Realtors are allowed to continue working, while exercising extreme precautions, as mandated by the CDC.

With that being said, if you are currently looking to Buy a Santa Cruz Home, during the Shelter in Place, I would love to assist you in your Santa Cruz Home Search. There is not the usual amount of inventory as we normally see at this time, but mortgage rates are historically low. Now may be a great time to buy, as long as you’re willing to be patient for your dream home to come onto the market.

If you are currently thinking about Selling Your Santa Cruz Home during this Shelter in Place, now may be a great time to put your home on the market. With inventory being low, the demand increases. Meaning, that some homes are seeing multiple offers and bid wars. I’d love to schedule a complimentary and confidential consultation with you to see how Fox Realty Group INC. can creatively market your home!