Santa Cruz Shelter in Place 2020: Day 127
Day 127 of the Shelter in Place was my first day back in town after being in Utah for a real estate conference. It was really nice to strategize and learn new ways that I can best serve my clients. But there was nothing like getting home and hitting the ground running; I came home, showered, unpacked, went on a listing appointment, and my phone has been ringing off the hook. What do you like to do when you get home from a trip? Don’t you think that we need at least a day to decompress and get our life back in order?
I was also so excited to be reunited with my man, who lovingly brought me some deliciously strong coffee! And later we watched the opening day for the Giants. But it was hilarious because the fans in the stadium were paper cut outs! I want a paper cut out of me there at the game or it would be cool to have the cut outs wearing my Fox Realty Group masks!
Santa Cruz Shelter in Place 2020: Day 128
Day 128 of the Shelter in Place here in Santa Cruz was a Friday that was as busy as a Monday! I spent some time in my mobile office in order to take a conference call in between showing some exquisitely beautiful properties. And sometimes my job entails me to meet with a designer or builder and then travel far into the Santa Cruz mountains so that they can compare whether they would rather do a remodel or buy a lot of land to develop. It was fun being able to see many different lots that are for sale in Santa Cruz. And later, I brought Danny to my listing on 3072 Aptos Hill Lane to help me fix the shutters. I love taking him to see my listings. It’s really nice when we get to work together.
Santa Cruz Shelter in Place 2020: Day 129
Day 129 of the Shelter in Place order here in Santa Cruz was such a busy day! I showed clients property all day, back to back to back, and by the end of the day I was getting exhausted. But I also got to do another thing that I love, record my Santa Cruz Market Update video in my home studio. I absolutely love my studio space, but Danny gets upset that I took over his man cave! I was so excited to come home to our avocado tree that is finally producing and a home cooked meal made by Danny! I definitely needed a little R&R after such a busy work day!
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.
This past week Santa Cruz County has been battling the CZU Lightning Complex Fires. These fires are devastating our Santa Cruz community; 78,000 acres of land have burned, 163 buildings have been destroyed, and the fire is only 13% contained. If you have been displaced from your home, and are in need of help, please reach out to me.
Some good news! July home sales are showing that the recovery of the housing market is sticking in August. “The housing market is well past the recovery phase and is now booming with higher home sales compared to the pre-pandemic days,” says NAR Chief Economist Lawrence Yun. “With the sizable shift in remote work, current homeowners are looking for larger homes—and this will lead to a secondary level of demand, even into 2021.” Sales of existing homes soared 24.7% in July from June, according to the National Association of Realtors.
However, the nation-wide shortage of housing inventory drove the median price of a home sold in July up 8.5% annually to $304,100. This is a record high nominal price but also the highest price when adjusted for inflation.
The 30-year fixed-rate mortgage averaged 2.99% this week after hitting an all-time low of 2.88% at the beginning of the month, Freddie Mac reports. “Home buyer demand continues to accelerate and is providing support to an otherwise stagnant economy“, says Sam Khater, Freddie Mac’s chief economist. Further, a surge in home sales has led to a rapid increase in demand for remodeling and home furnishings as consumers look to renovate during the COVID-19 pandemic.
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