Santa Cruz Shelter in Place 2020: Day 131
On Day 131 of the Shelter in Place, Ellia and I were feeling very crafty. We started off making jewelry from a crystal growing jewelry kit and later we made a Christmas tree out of wooden sticks. We were trying to make a candle holder, but it was a fail. And later on, I wore my new crystal earrings to go celebrate the success of Fox Realty Group, with my assistant Sarah, at MJA Vineyards on the Lower Westside of Santa Cruz! And we met a fabulous dog with a gold chain. It was really nice to spend time with Sarah, reflecting on our business and the goals that we’ve set for the year.
Santa Cruz Shelter in Place 2020: Day 132
On Day 132 of the Shelter in Place, I got to work with Sarah in the office for a bit, just like in the good old days! Of course we were both representing with our Fox Realty Group masks on. We hadn’t been in the office for so long that a lot of stuff needed to be updated! But it was super exciting because I got to review the multiple offers that my client received on her home! Part of being a listing agent is representing my client’s best interests, which in my opinion means, doing multiple counter offers when receiving multiple offers. That way it is a fair playing ground and everyone has an opportunity to respond, which in turn, will get the most motivated buyer to step forward and claim the property. Which is the best action that we can do for our seller. If you have any questions about selling your home here and Santa Cruz and how I negotiate on behalf of my clients, please let us know!
Santa Cruz Shelter in Place 2020: Day 133
On Day 133 of the Shelter in Place, I made a “coordinated dinner” for Ellia and some friends, in an attempt to achieve the Mother of the Year and to get higher in the parent rankings than Danny! And at this dinner, Ellia and her friends all wore Dunton Woodworking’s new pink sweatshirts! Aren’t they so cute? And Ellia and her friends all really liked my dinner, which made me so happy!! Ellia even said it was one of her favorite meals that she’s had in a long time, which was definitely a win for me!
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.
The coronavirus pandemic has left a “gaping hole in the U.S. housing inventory” that is triggering property price growth, according to a report released Thursday from realtor.com. The lack of supply has been the catalyst for heated market conditions as median listing prices last week grew at a record 11.1% year-over-year—more than double January’s pace—marking the 19th consecutive week of increasing price tags.
“The question on everyone’s mind is ‘how fast can prices keep rising?’,” said Redfin chief economist Daryl Fairweather. “Although the housing market is still red-hot, there are some early signs we may be nearing peak price growth. Sellers’ asking prices are still up significantly from last year, but by a lower rate than they were growing during the summer. Mortgage applications are also beginning to wane, and more new listings are coming onto the market.” But for the time being, in Santa Cruz County, we are still seeing listings receive multiple offers and go into a bidding war.
And, some exciting news!! We currently have 3 listings that we are in the process of preparing for the market!
1. Address Withheld, in Scotts Valley | 3 bed, 2 bath, 1,710 square feet | townhouse
2. 1359 Cherrywood Square, in San Jose | 2 bed, 2 bath, 1,056 square feet | condo
3. 83 Leawood Street, in Aptos | 2 bed, 2 bath, 1,080 square feet | double wide mobile home
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