Santa Cruz Shelter in Place 2020: Day 120
On Day 120 of the Shelter in Place here in Santa Cruz, I made Danny coffee to get him caffeinated before taking on the job of making the cabinet doors for our new kitchen. I am super excited for the renovations in our kitchen!
Ellia and I started growing some crystals for jewelry as a science project. And we made some delicious apple chips using the apples that we picked from Zayante Hollow Ranch. We sliced the apples into thin chips and dipped them in a mixture of honey, cinnamon, vanilla extract, brown sugar, and cane sugar. They were super delicious and farm-to-table fresh! And later on, Ellia and I went on a hike in Pogonip with our friends. It was definitely a nice day filled with lots of work, and play with Ellia.
Santa Cruz Shelter in Place 2020: Day 121 & Day 122
On Day 121 of the Shelter in Place here in Santa Cruz, I made Danny coffee in bed, again! And after, I walked into her bedroom and noticed that she left her room a mess when she had told me that she cleaned it up. I then went to Danny’s shop and watched Kelsey make some cabinet doors. It’s been really fun to watch her grow and learn new skills since she’s been working for Dunton Woodworking.
On Day 122 of the Shelter in Place, Danny and I got to enjoy a lunch break together to have a design meeting and discuss our kitchen renovations. Which may end up leading to an entire house project and a revamp of the outside of our house. We hope that TLC will pick us up and help us with our remodel, that would be nice! And later on, I got a call from an old client of mine who came into town to fish, and last minute asked if I could show him a house. I let him know that I was in m post-workout outfit and met him there! Your Santa Cruz real estate expert, at your service!
I hope that you are all staying happy and healthy during this time! Let me know if you need anything. And stay tuned for future Shelter in Place vlogs!
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.
|Realtor.com reports that sellers are back. Nationwide, the new listings component of the Housing Market Recovery Index (HMRI) grew above its January rate, along with the components for housing demand, asking prices, and pace of sales. |
Along the same lines, mortgage applications for new home purchases showed further improvement. “Applications for new home purchases with home builder affiliates were 39% higher than in July 2019,” said Joel Kan, Mortgage Bankers Association’s associate vice president of economic and industry forecasting. “On an unadjusted basis, new home sales were estimated to be up 14% over the year and showed year over year gains for the second consecutive month in July.” The average loan size for new homes was also slightly higher in July, up from $338,589 to $345,929 month over month.
And for the eighth time this year, the 30-year mortgage rate hit another historic low, 2.88%. “The resilience of the housing market continues as mortgage rates hit another all-time low, giving potential buyers more purchasing power and strengthening demand,” says Sam Khater, Freddie Mac’s chief economist. “We expect rates to stay low and continue to propel the purchase market forward. However, the main barrier to rising demand remains the lack of inventory, especially for entry-level homes.”
At Fox Realty Group, we have a few listings that will be coming onto the market in the near future. One of them is 122 Stephen Road in Aptos! This cute 2 bed, 2.5 bath, townhome is located just steps away from Rio del Mar State Beach. If you would like more information on this home before it hits the market, please reach out to me! I am here to help!
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!
“Don’t worry about darkness, for that is when the stars shine brightest.”
—Napoleon Hill, American self-help author
Santa Cruz Realtor
David Lyng Real Estate