8 Nov 2018

Santa Cruz Rent Control | Measure M | Where Are We Now?

Measure M and Prop 10 Were Rejected (Most Likely)   While we are all eager to hear about the results of the November 2018 elections, thousands of ballots countywide remained uncounted as of Wednesday. According to Santa Cruz County Clerk, Gail Pellerin, finalized results will be announced no later than Dec. 6.   However, early results suggest that both Measure M and Prop 10 were rejected by Santa Cruz City and California citizens respectively. Measure M

6 Nov 2018

Santa Cruz Real Estate – October Market Update

Trends At A Glance October 2018     Prices Continue to Rise   The average sales price for single- family, re-sale homes hit a new high in September. It was up 15.5% year- over-year to $1,083,100. This is only the second time the average price has been over one million. The median sales price was up 5.9%. Sales of single-family, re-sale homes in September were down 25.1%, year-over-year. There were 128 homes sold. The average

30 Oct 2018

Green Homes For Sale in Santa Cruz

What is a Green Home?   The definition of a “Green Building” can vary widely depending on who you ask. Green buildings are often constructed in a way and/or with building materials that result in less pollution during construction and energy-consumption over the lifetime of the building. Green features can range from energy-saving features to being zero-net energy (a building that produces all of the energy it consumes).   Why Green Homes Are A Good

2 Oct 2018

Santa Cruz County’s Ballot Measure H (2018)

A new report was recently released by the California Housing Partnership, a private nonprofit organization, shedding light on Santa Cruz County’s housing shortage. According to the report summary, Santa Cruz County needs 12,000 additional units to meet present-day demand. If added to our housing supply, these units would ensure that the lowest-income households would not spend more than 30% of their annual income on housing -- a federally recognized definition for affordability.   In November,

5 Sep 2018

Initial Stages of a Market Shift

We may be at the beginning of a market shift.   Realtor.com’s Chief Economist Danielle Hale reports that Pending home sales remained lower than one year ago for the sixth consecutive month in spite of inventory beginning to become more available. Six months of declining pending home sales year over year suggests we are experiencing market movements that cannot be explained away by seasonal variation. According to Hale, a mismatch in price between what’s available

17 Aug 2018

Local Real Estate Market Trends and Statistics

When planning your next real estate purchase or sale, imagine having up-to-date, accurate market statistics at your fingertips. The Schneider Estates Real Estate Report Dashboard allows clients to analyze local markets in depth and it’s easy to use. Watch this short tutorial and see for yourself:     Save this link so that you can access the dashboard anytime: http://schneider.rereport.com/ Questions? Feel free to contact us: (831)

7 Aug 2018

Santa Cruz Rent Control and Just Cause For Eviction – The Counter Movement

Now that the Rent Control and Just Cause for Eviction measure is officially on the ballot, the counter movement has begun to gather steam.   Santa Cruz Together, a grass-roots movement to stop the measure from passing, has collected $60,000 from supporters and hopes to raise up to $200,000 to fund their campaign. The California Apartment Association, nation's largest statewide trade group, has also promised to fight the ballot measure and has raised $403,000 thus

30 Jul 2018

The Commercial Cannabis Business and Santa Cruz Real Estate

With the passage of Prop 64 and Senate Bill 94*, the Medicinal And Adult-use Cannabis Regulation And Safety Act (MAUCRSA) made the sale and taxation of commercial cannabis legal in the state of California. MAUCRSA also created the general framework for the regulation of both commercial medicinal and adult-use cannabis in California.   To legally cultivate, manufacture, and/or distribute cannabis, both a state and local license will be required. Additionally, both unincorporated and incorporated areas

19 Jun 2018

Santa Cruz City Housing BluePrint

What is Santa Cruz City government doing about the housing crisis? City Council is focused on the issue and has created a Housing Blueprint Subcommittee to gather community input and make suggestions.   The result of this process is the Santa Cruz City Housing Blueprint. In the blueprint, subcommittee members outline “first priorities” which have been selected after considering both City Council recommendations and community feedback. They are: Community Engagement Legalization of Unpermitted Dwelling Units

5 Apr 2018

Silicon Valley and the Santa Cruz County Market

"A 10 percent increase in housing costs in a county is associated with a roughly 5 percent increase in housing costs in its neighboring counties." -California Legislative Analyst Office   "Historically, Santa Cruz has provided housing base for major job centers located in Silicon Valley. This relationship has been one of the major drivers of housing demand, especially for single family dwellings in the above moderate household income category. Further, jobs in Santa Clara County

20 Feb 2018

Rent Freeze in Effect in Santa Cruz City, Rent Control On the Ballot

On Tuesday, February 13th, the Santa Cruz City Council passed temporary rent freeze and a just cause for eviction ordinances for certain rental properties within the city limits (see exceptions below). This sudden action was in response to community-member complaints that, given the impending threat of a rent-control moratorium (City of Santa Cruz Rent Control and Tenant Protection Act) on the November ballot, landlords have an incentive to raise rents and evict tenants to guard

16 Feb 2018

How to Deal with a Low Appraisal During a Deal

Out in the field with our buyers, we've been seeing multiple-offer situations on a number of homes, driving up the home price beyond what a reasonable comparable market analysis (CMA) would support. This is to be expected in a market like ours with tight inventory and high demand. Unfortunately, this also means that a number of buyers who rely on a mortgage for their home purchase may run into what we call, an appraisal deficiency

5 Jan 2018

What’s Coming: the 2018 Santa Cruz Real Estate Market

At the beginning 2018, there are some important changes on the horizon for Santa Cruz Real Estate. The Tax Cuts and Jobs act, which is making its way through the House and Senate, will be a major determinant of 2018 housing market health. We've written about its potential impact on the California real estate market in a separate blog post, and will provide regular updates on this topic. Here, we summarize some other major factors

18 Dec 2017

What Millennials Look For In A Home

With the total headcount nearing the 90 million, millennials make up the largest living generation in the US. Ranging from early teens to mid-thirties, millennials are going to and have already begun to make up a significant proportion of potential homebuyers and renters. Knowing what this generation is looking for in a home is therefore key to home sellers and investors.   What Millennials Like In A Home   According to a late 2016 study

28 Jun 2017

Changing Vacation Rental Laws in Santa Cruz City

This just in: this Thursday, June 29th, at 7:00 p.m. the Santa Cruz City Planning Commission will consider new rules to govern short-term vacation rentals (included Airbnb and VRBO properties). The Planning Commission is taking a long, hard look at the affordable housing crisis in Santa Cruz City. Their decisions will have a direct impact on propertyowner’s ability to take part in the vacation rental program in the City.   The City Planning Commission elected

21 Jun 2017

When Will Prices Go Down?

As we talk to clients, we are hearing a similar question time and time again: When Will Prices Go Down? Measures of housing affordability in Santa Cruz suggest that rising income levels in neighboring communities are pushing up housing prices. Santa Cruz residents are finding it challenging to afford homes and younger generations are leaving in search for lower-priced housing. To maintain a healthy, diverse, and vibrant community it's vital that local economic growth keeps

9 Mar 2017

Changing Energy Codes to Increase Energy Savings

Did you know that new 2016 Residential Building Energy Efficiency Standards (Energy Standards) are now being enforced and California is expecting to see 28% more energy savings in regulated loads* than those built under the 2013 Energy Standards? *an electrical load is an electrical component or portion of a circuit that consumes electric power Having energy efficient buildings: Reduces energy costs. Increases reliability and availability of electricity. Improves building occupant comfort and reduces impact to the environment. Energy efficiency requires

28 Feb 2017

Changing ADU Laws in Santa Cruz

In response to our state's housing shortage, Governor Brown has signed Senate Bill (SB) 1069, which will make it easier, and for some, less expensive to develop Additional Dwelling Unit's (ADU's). SB 1069 will require local governing bodies to loosen ADU regulation. Both Santa Cruz County and City have amended their ADU related ordinances. We report on major ordinance changes that the city has publicized. We also summarize County ordinance changes, which are still contingent on Coastal Commission

30 Dec 2016

Housing Affordability Issues In California and Your Options

The truth is, homeownership is challenging for many right now because of high prices, high rents, and low supply. However, the state and local governments are working to remove barriers to development, improving the supply shortage in our state. Additionally, there are loan programs that are helping to break down walls to homeownership for new homeowners.

14 Dec 2016

2017 Santa Cruz Real Estate Market Predictions

It’s amazing that we are at the end of another year. Here at Schneider Estates we have much to be grateful for. Most of all, we are so grateful for you. You allow us to do what we love everyday. From helping younger couples find their first homes to ensuring seasoned investors find good deals and everything inbetween, we are honored to get to work with you and help you to make wise, informed real estate

3 Nov 2016

The Corridors – Santa Cruz Zoning Changes

  The City of Santa Cruz is in process of researching and asking for public feedback on the idea of changing the zoning code along four corridors within the city of Santa Cruz. As shown in the  map below, these corridors include Mission Street (Highway 1), Soquel Avenue, Water Street, and Ocean Street, each identified as a road that carries the heaviest cross-town traffic and provides access to a variety of amenities. Changes in the zoning

9 Sep 2016

Rising Sea Levels – Local Consequences

With man-made climate change being widely accepted by the scientific community, the question is no longer "if" but "when" our communities will be affected by these large-scale changes in the environment. The Pacific Institute has recently released an interactive map that projects to 2100 and identifies at-risk areas in the event of a major flood or from erosion, with both scenarios dependent on a ~4.6 ft sea-level rise. Read more about the study conducted here and see the actual

28 Jul 2016

Is there a Housing Bubble in the SF Bay Area?

Historically high housing prices in Santa Cruz and the Bay Area are on the minds of many. It naturally follows to ask, are we in a housing bubble? A bubble occurs when prices are decoupled from the true value of an asset, and due to the expectation that prices will continue to rise, they do so until the bubble bursts. Therefore, the question is, are people buying real estate in the Bay Area simply because