santa cruz real estate: “Buy-To- Rent” or “Buy-Renovate-To-Rent” catch phrase means what?
- 03/29/14 04:32 AM
What is the biggest change happening within our real estate market? Investors Buying up bad mortgages and shadow inventory. I am not talking about these local investors that call us agents up to identify a good buy here in the SLV.I am referring to MAMMOTH sized Investors.
Remember this new catch phrase!
“Buy-To- Rent” or “Buy-Renovate-To-Rent”
Shadow inventory refers to real estate properties that are either in the process of foreclosure and subject to potential short sale or are already “owned” by banks or GSEs. In either case, these properties are “in the shadows" … (0 comments)
santa cruz real estate: Fantastic bombshell you must know about Santa Cruz County Real Estate
- 12/05/13 12:20 AM
A bombshell was released by a California Senator that no one yet seems to recognize how big it is -- until now. Santa Cruz County Distressed Home Sellers Not Liable for Federal, State Income Tax on Short Sales If you are a homeowner who sold a short sale, this article could be worth thousands in income tax savings. If you are a real estate agent or other adviser, this knowledge could make you a real hero to your clients. This is Big California Association of REALTORS announced it received a letter from the California Franchise Tax Board … (8 comments)
santa cruz real estate: Power of Attorney in a Santa Cruz Real Estate Transaction
- 02/03/11 09:22 AM
I am a Santa Cruz Real Estate agent that had a client who suffered a health issue and was hospitalized during a transaction. So I quickly learned what should be done next. If you need a Power of Attorney contact Gloria Kessel (831) 460-1940 tell her Patti sent you. Limited Nondurable Power of Attorney A Non-Durable Limited Power of Attorney for real estate transactions is an important legal document that is specially designed to allow you to appoint an Agent, or "attorney-in-fact" to sell or buy real property for you. The powers you grant in this Non-Durable Specific Power of … (0 comments)
santa cruz real estate: (video) The Seabright Neighborhood of Santa Cruz itself is an attraction woth viewing
- 01/11/11 03:20 AM
There is a lot to do within walking distance of any house. Seabright beach is sheltered from the prevailing wind and fog you routinely get in San Francisco and Monterey. Our summer temperature, generally in the 70s, is perfect for those folks escaping hot and humid summer weather elsewhere yet don't want to be in the cold and wind that is common to many other areas of the coast north of Santa Barbara. Seabright NeighborhoodThe Seabright Neighborhood itself is an attraction. This is a unique place to enjoy walks or bike rides. The "Point" is a wall of limestone between the San … (0 comments)
santa cruz real estate: Investors and Cash Buyers are back in the Santa Cruz County market,
- 02/10/10 04:22 AM
Investors are back in the market, and they are paying all-cash, mostly for property under $500,000. Last year I wrote 16 offers for my San Lorenzo Valley client. Each one was beat out by an all cash investor in a multiple offer situation. One listing in Ben Lomond, CA has 23 offers on it. The effect of this is to freeze out first-time home-buyers who have to get a loan. Banks are still chary about providing loans. About the only loans left for first-time buyers are FHA loans. So, while the first-time buyer is working through the loan process, the investors … (0 comments)
santa cruz real estate: Let's hear it for the title and escrow folks in Santa Cruz County
- 11/11/07 11:05 AM
from Patti Lyles @ SantaCruzRealEstateHomes.com Behind the scenes of each purchase and refinance transaction are the unsung heroes of our real estate market, all of the hard-working employees of the three title companies in Santa Cruz County: Santa Cruz Title, First American Title and Old Republic Title. A homebuyer or borrower probably will only have contact with his escrow officer for an hour while they are signing all of the miscellaneous loan and property transfer papers, a procedure that is affectionately called "the sign-off," but that is only the tip of the iceberg. An escrow is opened by the real estate agent as … (0 comments)
santa cruz real estate: Are your Santa Cruz Property Tax Assessments Too High?
- 10/27/07 03:26 PM
EVERY PENNY HELPS!! by Patti Lyles: http://www.feltonproperty.com/ Request for Reappraisal - When the taxpayer believes he/she is being over assessed this form may be submitted to the Assessor's Office so that the current assessed values may be reviewed. (call 831-454-2002 ask for a form called Prop 8 Reductions under Tax Cycle Information. I recently filed a Request for Reappraisal with the Santa Cruz County Tax Assessor's Office for our own investment property. The process was very simple and in less than 60 days we received notice that our annual property taxes would be temporarily reduced by nearly $500.00 WARNING: BEFORE you send it, if … (1 comments)
santa cruz real estate: Santa Cruz Reports: Median Price for homes Set new record
- 09/12/07 06:40 AM
Patti @ www.santacruzrealestatehomes.com Median Price for Homes Sets New Record It is hard to believe isn't it? But read all of this to better understand the breakdown. The median price for Santa Cruz County single-family, re-sale homes rose 1.8% in August, a year-over-year gain of 3.8% and a new record. Does this mean home prices are rising? I don't think so. This is just a statistical anomaly brought on by the weakness in the lower-end of the market. Higher priced properties are a greater portion of all sales thereby skewing prices. The median price for condos rose 1.8% to $509,000, an annual loss of … (0 comments)
santa cruz real estate: Want a Santa Cruz home? Get credit scores up because lenders are NOW looking for quality now.
- 08/26/07 05:39 AM
Patti @ www.SantaCruzRealEstateHomes.com Q: I want to buy a Santa Cruz Home in the next 60 days. You asked me what my FICO scores are. I just found out that the score was below what you would have liked. My FICO scores are a little low, is there a way I can improve my scores very quickly? A: The first rule of maintaining and keeping a healthy FICO score of 720 or higher is NEVER BE LATE! Primarily any MORTGAGE PAYMENTS. I can't emphasize the point of how important it is to never be late on your mortgage payments. But it is not … (0 comments)
santa cruz real estate: Ocean View property, Beachfront property and Up-sale living with a Pacific Breeze
- 08/20/07 05:14 AM
Patti Lyles announced today the launch of LuxurySantaCruz.com, (website:http://www.LuxurySantaCruz.com ) a novel luxury real estate portal featuring all MLS listed homes in Santa Cruz and surrounding areas with a list price of 2 million dollars and above. About LuxurySantaCruz.com LuxurySantaCruz.com is designed to serve the home buying needs of those who are in the market for $2 million plus homes and condos - and it can be a way to watch the luxury market for the curious. It is based on a visually impressive full-screen map based portal powered by Google Maps, with a selection of aerial, hybrid, street or topographical maps. … (0 comments)
santa cruz real estate: Magazine names Santa Cruz one of the nation's best cities.
- 08/18/07 03:10 PM
Outside Magazine latest issue names Santa Cruz one of the nation's best cities. Santa Cruz Home owners once again have proof they live in one of the best towns in America. The upcoming issue of Outside magazine names Santa Cruz in its annual list of the most desirable places to live. The editors at Outside Magazine said they chose Santa Cruz for its mix of laid-back and cosmopolitan atmospheres. The story describes it as, "old-time hippie culture, complete with dread locked street urchins and lots of wheatgrass, blending with the Volvos and BMWs of the high-tech crowd". John Bradley, a senior editor for Outside Magazine, … (0 comments)
santa cruz real estate: How do vacation rentals work in Santa Cruz?
- 08/15/07 05:28 AM
Q. How do vacation rentals work in Santa Cruz? A. First of all this is a function of specific rules (ordinances) in City of Capitola and the lack of any rules in the City of Santa Cruz, and in Santa Cruz County areas. As for the City of Capitola, there are strict ordinances that govern daily/weekly/vacation rentals. (That is any time period less than 1 month or 30 days.) The property must be zoned commercial and in the Village, Downtown to be rented in this manner. Also, there is a 10% hotel tax (otherwise known as room tax or transient tax) due … (0 comments)
santa cruz real estate: Santa Cruz County has not escaped the nationwide spike in Foreclosures
- 08/11/07 01:43 PM
Increased Foreclosures Bring Real Estate Buyers Back to Basics Patti @ http://www.santacruzrealestatehomes.com/ Santa Cruz County has not escaped the nationwide spike in foreclosures. The trend, largely a result of the prevalence of high-risk (or "subprime") mortgages issued in recent years, especially affects first-time home buyers who are struggling to get into an expensive real estate market. The number of foreclosures in the County nearly tripled in January 2007, with a total of 98, compared to just 35 for the same period a year ago, according to ForeclosureS.com. The company has been tracking the housing market since 1992. Nationwide, more than one in eight … (1 comments)
santa cruz real estate: Santa Cruz Monthly Real Estate Trends
- 08/10/07 12:34 PM
The following chart shows median and average price trends plus plus unit sales for single-family homes in Santa Cruz. The chart uses a 12-month moving average to eliminate any seasonal variation. The next chart is the same as above but uses a 3-month moving average. This smoothes out month-to-month variations yet shows seasonal variations. This chart shows the current inventory of homes for sale compared to the number that have sold. The following three charts show the same information for Santa Cruz condominiums.
For detailed information on Santa Cruz real estate, give me a call or send me an e-mail. If you prefer, you can … (1 comments)
santa cruz real estate: SANTA CRUZ MOUNTAINS: San Lorenzo Valley Monthly Real Estate Trends
- 08/10/07 10:26 AM
San Lorenzo Valley Monthly Real Estate Trends The following chart shows median and average price trends plus plus unit sales for single-family homes in San Lorenzo Valley. The chart uses a 12-month moving average to eliminate any seasonal variation. The next chart is the same as above but uses a 3-month moving average. This smoothes out month-to-month variations yet shows seasonal variations. This chart shows the current inventory of homes for sale compared to the number that have sold. For detailed information on San Lorenzo Valley real estate, give me a call or send me an e-mail. If you prefer, you can fill out … (0 comments)
santa cruz real estate: Getting out of a Dead Market-A case for Movin' on and out of Santa Cruz
- 08/09/07 03:33 AM
Getting Out Of A Dead Market - The Case For Taking What's There And Movin' On Patti Lyles @ http://www.santacruzrealestatehomes.com There of course those who might disagree, but as I've said so many times before, buying small residential income properties in Santa Cruz haven't made sense for quite awhile now. Furthermore, I can envision any scenario resulting in positive change so radical that small units become investor friendly in the foreseeable future. Larger properties offer different dynamics than the little guys, but I still don't see how the rising rents will have much of an impact with the cap rates remaining … (0 comments)
santa cruz real estate: What's New on the Green Scene isn't money
- 08/08/07 08:24 AM
What's New on the Green Scene. But it will cost a lot of green to get. Patti Lyles @ www.SantaCruzRealEstateHomes.com The latest environmentally friendly home features aren't just good for the planet - they look great and are a huge draw for conscientious buyers, too. "Interest in being green has moved across the country - it's no longer just for wacky Californians," says Matt Golden, who founded Sustainable Spaces Inc. in San Francisco three years ago. There are plenty of reasons why focusing on the environment has become so popular lately. Home builders, retailers, and product manufacturers are seeking to satisfy consumers' … (1 comments)
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