In 2020, the United States witnessed a real estate phenomenon. Interest rates dropped, home prices rose, and U.S. homeowners pulled out nearly $185 billion from their homes' equity through cash-out refinancing, representing the highest amount of equity pulled out since 2007. However, analysts are now warning homeowners to be cautious when pursuing a cash-out refinance. Here's why.
Have you thought about changing the title on your property? You are not alone, and may be considering doing because of one of the common reasons we’ve written about below.
A new, proposed California Senate bill will prohibit landlords from discriminating against those with Section 8 vouchers. In this article we’ll explain what the bill proposes and explore different perspectives of those who will be impacted by it. What Is the Section 8 Voucher Program? The Section 8 voucher program is the federal government's major program for assisting very low-income families, the elderly, and the disabled to afford housing in the private market. In Santa
Have you been wanting to build a Granny Unit (aka additional dwelling unit) for extra space or income but just do not have the time to sort through county regulations, paperwork, and processes? Have you been looking for the right lot to build your dream home on? Or maybe you own an investment property Santa Cruz County that you’d like to develop but you live elsewhere?
Do you own a property which has appreciated considerably since you purchased it? Have you been hesitant to sell because you want to avoid paying capital gains tax? If you've answered yes to either of these questions you may benefit from using a Deferred Sales Trust (DST). If you are at risk of paying a substantial sum in capital gains tax when selling your home, and if you either don’t quality for or would like
Tech IPO’s: Higher Prices Over the Hill, Bubble-Speculation, and What it Means for The Santa Cruz Real Estate Market
As you may have read about in our newsletter last month, 2019 is slated to produce a long list of multi-billion-dollar IPOs from San Francisco Bay Area heavyweights like Lyft, Uber, Palantir, Pinterest, Airbnb, Slack, Postmates, and Instacart. According to Patrick Howell O'Neill, this will results in a massive and sudden injection of liquid cash into a region already infamous for having the nation’s priciest real estate. While the impact may not be as sudden
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
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
“Where do I put my money and time when fixing up my home?” This is one of the most important questions that our clients ask us when they are ready to sell their Santa Cruz Real Estate. We’d like to share some valuable tips and resources that we’ve gathered over the years. Tip 1: Know Your Santa Cruz Home Depending on the neighborhood, Santa Cruz homes can be very unique. The age
Buying New Homes in Santa Cruz If you are interested in buying a newer home in Santa Cruz county you may be in luck. It may seem difficult to find new homes, but it doesn't have to be. We are a team of Real Estate professionals who have lived and worked in this county for over eleven years and are well equipped to help you find a new home in Santa Cruz County.
With the combination of heavy winter rains, ocean mist, and wooden homes, Santa Cruz homeowners and buyers needs to be especially cautious about mold. Mold can not only cause health problems, but if left untreated, can weaken your walls, ceiling, or floor. Whether it’s a musty smell, seeing mold outright, or a chronic, inexplicable cough, its important to be proactive in checking and treating mold problems. Not all mold is the same. Some types
When thinking of an ADU, many picture a small, free-standing building in the backyard. This kind of thinking may deter those with smaller lots from exploring the option of adding an ADU to their existing structure. This is a shame, given the additional rental income and living space that ADU’s often afford. The truth is, ADU’s come in all shapes and sizes, and under the right circumstances, even small lots can support them.
If you’ve been reading our newsletter, you’ve undoubtedly heard about the rent control and just cause for eviction ballot initiative (Renter Protection Ballot Initiative) which has been circulating through the city. The Movement for Housing Justice has submitted 10,791 signatures to the City of Santa Cruz, well above the required number of signatures needed qualify the initiative for the November polls. The group is now awaiting the results of a 30 day signature validation process.
Should disagreements arise, the right to evict is an important component of property rights, giving real estate owners the ability to re-gain possession of their property in difficult situations. There is a new ballot initiative that is circulating throughout the city of Santa Cruz that poses to, in many situations, take away this right. This will increase the risk of renting in the City of Santa Cruz.
A reduction in incentives for homeownership results in strong demand in the rental market. This fact, and a new deduction on taxable income of pass-through companies suggests that landlords and other real estate investors stand to benefit from the new law.