Since 2011, the residential real estate market has been steadily climbing. Housing prices have increased year-over-year in most major markets, with the housing medium rising 55% over the last decade (June 2010 to June 2020). This bullish market has proven beneficial to investors and homeowners across the country. However, as a result of the 2020 market, some analysts predict that 2021 may experience a significant shift. We may be transitioning to a bear market as
Un-permitted work on a home can prove to be damaging to a home sale. It can be both timely and costly. So, for those looking to buy or sell a home, be sure to stay updated on the critical aspects of permits and understand what to do if there is un-permitted work on a home. What Home Projects Need A Permit? The first question I often get is What projects actually need permits? Overall, any
Earlier this year we started to witness an increase in transaction velocity for homes across the county. This was a direct result of the Fed cutting rates, which ultimately provided Americans a chance to purchase a home at a historically low interest rate. When the pandemic swept the globe a short time later, analysis predicted that velocity would slow down as a result of two factors: 1) People fearing the impact of the virus, and
Governor Newsom of California has recently signed a string of new laws aimed directly at the growing problem of housing costs. As Newsome recently said, “the high cost of housing and rent is putting the squeeze on family budgets, and our housing shortage threatens our economic growth and long-term prosperity.” Since his election in January, Newsom’s administration has indeed taken several steps toward solving California’s housing affordability crisis. According to Newsom, “in 2019, California has
It is no doubt that Climate Change will require large-scale solutions. However, to tackle this gigantic problem, we will all need to make changes to the way we live, and the sooner we do so, the better. To help bring more environmental conscientiousness to homeownership, we've provided some tips below on how to reduce water and electricity use as well as waste in our homes. Save Water According to the EPA, the average American family
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
If you plan to buy or sell a residential home in California, you will likely use the California Residential Purchase Agreement and Joint Escrow Instructions (RPA-CA) contract to specify the terms of the deal and how they will be executed.
Imagine purchasing the lot of your dreams, with beautiful views, in the location you’ve always wanted, and then finding out that you are not allowed to build on it because it’s not a legal lot!
As you may have read about in our previous article, there is now a sewer lateral inspection requirement in unincorporated Santa Cruz County and Santa Cruz City before the close of escrow (in other words, before you sell your home).
Did you know that, if you are 62 or older, you may be able to use a reverse mortgage to purchase a home? In this article we cover how you can use the equity in your current residence to purchase property; different Reverse Mortgage options on the market today, and how this financial decision will impact your heirs. Using a Reverse Mortgages to Buy a Home You may have heard of using a Reverse Mortgages
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
Have you ever considered Vacation Rentals? Are you considering purchasing a second home, or currently own one? Do you have an extra room or portion of your house or duplex available? Santa Cruz County, with all of its many splendors ranging from gorgeous coastlines and legendary surf spots, to majestically scenic redwood drives and hikes, to iconic landmarks and family-friendly entertainment, provides a great opportunity to venture into the proposition of gaining extra income from
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