Foreclosures? With the rapid rise in interest rates, we have seen in the latter part of 2022,one might wonder if that will precipitate a foreclosure storm. Unlikely. Let’ssee what the data brings to light.Attom Data has been tracking foreclosures for decades. They are claimingthe current market is shielded from a foreclosure storm by several keyfactors. First, changes in the lending practices initiated by the Dodd Frank Actin 2010 greatly reduced foreclosures. Even before the pandemic
The City of Capitola has been impacted by an increase in tourism along the Central Coast, and property owners are pursuing the opportunity to transition their homes into vacation rentals. Before jumping in, however, residents need to familiarize themselves with the City of Capitola’s rules and regulations regarding new and existing vacation homes.
Due to the city’s growth in popularity over the years, investors and homeowners are looking to leverage their primary, secondary, and investment homes by renting them out to tourists. However, this increased popularity has led to more city regulations. Anyone considering turning their home into a vacation rental needs to keep the following information in mind.
Located along California’s Central Coast, approximately 70 miles south of San Jose, Santa Cruz County enjoys a $1.1 billion annual tourism industry. Its beautiful beaches, stunning trails, and family activities bring visitors from all around the globe. As a result, more homeowners are interested in turning their properties into vacation rentals! Before venturing down this path, however, it is essential for people to understand what is permitted regarding vacation rentals in Santa Cruz County. Santa
On October 1, 2021, a historic recalculation of flood insurance premiums by the Federal Emergency Management Agency (FEMA) went into effect, according to a two-phase process.
Did you know that you are responsible for anyone who steps foot on your property, whether you invited them or not? If you’re like most homeowners, you may not be aware of your responsibility to keep children and others safe in your neighborhood. You may believe that the safety of neighborhood children, as well as other visitors to other properties, is the responsibility of their parents (or other property owners). However, according to state law,
Research revealed how wildfires could have a volatile impact on the health of residents in surrounding communities via the water supply.
The Santa Cruz County Board of Supervisors has been discussing the need for changes to the accessory dwelling unit (ADU) handbook for months with the expectation that outstanding issues would be resolved at this month’s meeting. However, the discussion will continue as the board rejected proposed recommendations at the August 10 gathering.
As we enter the summer of 2021, many COVID-19 restrictions are easing up, vaccines are widely available, and Americans are breathing a sigh of relief. It's nearly vacation season, and Santa Cruz County is becoming a hot spot for prospective travelers. This year, the season brings especially good tidings for homeowners: according to the county guidelines, travel restrictions and the moratorium on new vacation rentals have been lifted! As a result, property owners in Santa
The State Board of Forestry and Fire Protection recently proposed new regulations that could drastically affect landowners in Santa Cruz County, more specifically, those impacted by the CZU Lightning Complex fires that burned in Northern California starting August 2020.
Each year, homeowners in Santa Cruz County face the threat of wildfires and the potential loss of property. Because of this unfortunate reality of living in California, local groups have designed multiple resources that are accessible for free to the community. Homeowners can use these resources to better safeguard their homes - and their families - against the devastating effects of wildfires. An abundance of resources exist for community members to ensure that homeowners remain
If you’ve been following the Santa Cruz City Council legislative process, there’s no doubt that you’re curious where the Council stands today on Rent Control and Just Cause for Eviction legislation, the Rental Housing Task Force, the Housing Blueprint, and other legislative measures that have been proposed and accepted or rejected along the way. In this article we’ll give a broad overview of the City’s legislative actions related to these housing-related topics and discuss where
Are you one of the growing numbers of people interested in alternative (and often less expensive) housing options like yurts? If so, it’s important to understand your local government’s rules and regulations related to living in these structures year round, as a primary residence. Read on to explore the option of living in a yurt in Santa Cruz County. What is A Yurt? Traditionally, yurts consisted of an expanding wooden circular frame overlaid with a
Back in 2016, Merlone Geier Partners purchased the Capitola Mall from its previous owner, Macerich. In a recent town meeting, plans for the re-envisioned Capitola Mall were discussed. You can read more about the meeting in this article from the Santa Cruz Sentinel. The focus of this meeting was to present the plan for the “Capitola Town Square,” as well as to provide an opportunity for members of the community to ask questions and have
An Update: Rental Housing Task Force, Just Cause for Eviction and Large Rent Increase Laws in Santa Cruz City
Are there rent control or just cause for eviction laws in the City of Santa Cruz? In this short post, we discuss the succession of events related to rent control and just cause for eviction laws in the City of Santa Cruz after the November elections. We answer the question above and help you understand what is being proposed, and where the City Government is in the legislative process. As a reminder, voters rejected Measure
How you price your home will determine if and how long it takes to sell. Pricing it well requires an in-depth understanding of our local real estate market conditions. On average, in 2018, homes that had a price decrease were on market for 69 days and sold for $554 / square foot. Compare that to all homes that sold without a price decrease: on average, they were on the market for 17 days and sold
With great restaurants, cafes, walkways, beaches and community, Pleasure Point feeds the body, mind and spirit. What makes this one of the most desirable places to live in Santa Cruz County? Check out some of the highlights of Pleasure Point below! The Surf Spots and East Cliff Dr There are two surf spots in the Pleasure Point area: The Hook and Pleasure Point. Whether you are catching waves or admiring them from afar, you’re sure
The Importance of Curb Appeal There is no consensus exactly how much landscaping enhancement and outdoor features will impact the sales price of your home. However, there are some strong findings that suggest that investing in your home’s curb appeal will produce rewards at the time of the sale. According to a survey done by the National Association of Realtors, RealtorsⓇ ranked standard lawn care service as the number one project that appeals to buyers,
Summary of “An Interim Ordinance Of The City Council Of The City Of Santa Cruz Requiring Just Cause For Tenant Evictions Within The City”
On Tuesday, January 8th, 2019 the Santa Cruz City Council, voted to push an “interim” Just Cause for Eviction ordinance to the next round of voting. However, during the second meeting held on January 23rd, the City Council voted to postpone moving forward with the ordinance due to a large amount of community feedback (over 1000 letters) opposing the measure. Having originally voted "yes" on the ordinance, vice Mayor Justin Cummings proposed tabling the initiative
In the wake of a passionate election season in which affordable housing was one of the major topics of debate, a large housing project was just approved in the City of Santa Cruz. The Pacific Front project is a 205-rental unit housing project which includes ground-floor commercial space and two floors of parking garage. Have you ever heard of Measure O? Under this measure, developers of housing projects must make a certain percentage of their
If you own property in Santa Cruz, Santa Clara, or Monterey County, today (December 10th, 2018) is the deadline to pay your first installment. If you do not pay by 5:00 PM PST, a 10% penalty will be added to your bill. Note: if you intend to pay your Property Tax by mail in the counties list above, the envelope in which you send the payment must be post-marked with today's date to avoid late-payment
Now that the election season has passed and a majority of the votes have been counted, where do we stand with the many local and statewide housing-related ballot measures? Below we’ve summarized both Santa Cruz County and California ballot measures and proposition results, and what each means for our local market. Note, after November 6th, there is a 30 day “canvasing” period in which vote-by-mail ballots, provisional ballots (including conditional voter registration provisional ballots),
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
When adding onto or significantly modifying your property, you will likely be required to obtain permits. Unfortunately, the permitting process in Santa Cruz County can be costly. According to this Sentinel Article, the average county Planning Department fees for accessory dwelling units less than 640 square feet are from $11,500 to $4,200. These high costs often disincentives homeowners from build accessory dwelling units (ADU’s). Things are changing. Santa Cruz County Board of Supervisors have approved
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
It just became easier to legalize unpermitted living spaces on your property. The Problem Do you own a home with unpermitted space? If so, make sure that you understand the risk involved: Building codes are designed to make a structure safe. Regardless of how good your contractor is, if a tenant or visitor gets hurt in an unpermitted space, you may face serious legal consequences. When selling a home, unpermitted spaces is
The Santa Cruz City Council commissioned an independent and impartial analysis of the Santa Cruz Rent Control and Tenant Protection Act (The Act) or Measure M. This analysis is limited in scope and only focuses on the financial and administrative impact that the "Rent Board" will have on the City of Santa Cruz should Measure M pass. If Measure M is voted into law, a City Rent Board comprised of City residents will be created.
Santa Cruz County Coastal Zone Map: What is the Coastal Commission? The California coast is a unique treasure loved by locals and visitors alike. To protect California’s coast and ocean for present and future generations, citizens came together in 1972 to enact the The California Coastal Conservation Initiative. Through this initiative, the Coastal Commission came into being. Four years later, the State Legislature enacted the California Coastal Act, which is the primary law that
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: https://schneider.rereport.com/ Questions? Feel free to contact us: (831)
The installation of solar panels has been increasing for over a decade. The graph below shows total solar capacity* in California over time. According to surveys, a majority of homeowners choose to “go solar” to save money on energy bills and reduce a home’s carbon footprint. source Have you considered installing solar panels on your home or purchasing a property with solar panels? If so, it is important to understand how solar panels