capitola homes: Santa Cruz Short Sales on the Rise
- 12/01/09 10:35 AM
Over the last year we have seen both the Federal and State governments trying to stem the tide of property foreclosures via moratoriums and loan modification programs. This has resulted in slightly slowing down the escalating trend of home foreclosures. For the few that can qualify for a loan modification only 30% have been successful. Thus many of these failed loan modification homes end up being foreclosed upon. Also as a result of these government and bank programs, we have seen a significant increase in Short Sales. Over the last six months we are averaging about 25 Short Sales a month. This is a result of … (1 comments)
capitola homes: Santa Cruz Home Bubble Prices
- 10/23/09 10:40 AM
Santa Cruz Home Bubble Prices October 2009 As we move to the end of 2009, many home Sellers and Buyers are wondering what direction home values are going ? As I have mentioned on previous blogs, we are still seeing a constant stream of foreclosures with unemployment and negative equity the driving reasons. So until we see unemployment improved and home prices stabilize, there will not be much improvement. So where are we now ? As you can see in the graft below, homes in the Watsonville area have taken the biggest equity hit with median home prices off 57% from the peak of the … (0 comments)
Like most areas through out the United States, Santa Cruz real estate has had its fair share of lost value. However some areas in Santa Cruz County like the beach areas have not been hit as hard. For example the greater Watsonville and south county area has been hit a lot harder than the beach areas of Santa Cruz. This is due in part to the higher demand for beach properties and a scarcer inventory of beach homes. But another reason is that there are a lot less bank owned properties for sale in the … (0 comments)
capitola homes: Santa Cruz Home Inventory
- 05/12/09 07:36 AM
Santa Cruz County Inventory May 12th 2009 These are interesting times in Santa Cruz County with regards to real estate. This is the time of year that Buyers get real active in finding the right property to purchase. Our high season for local real estate happens like the farming season for our fruits and vegetables, from May to September is our busiest time of the year. But this season we have a different pattern as compared to previous seasons. If you look at the graft below, you will see a snapshot of the housing inventory of Santa Cruz County and there … (0 comments)
Pick up the newspaper or watch the news on TV and you can't help but see how bad the news in the real estate market. However there are some areas in the country where property values have not been hit as hard as the central valley area of California. Certainly the Watsonville area of south Santa Cruz County has seen a major decline in home values comparable to central valley property values. However in comparison, many home owners in the prime areas of Santa Cruz areas like Aptos, Rio Del Mar, Capitola and Santa … (1 comments)
Over the last year we have seen both the Federal and State governments trying to stem the tide of property foreclosures via moratoriums and loan modification programs. This has resulted in slightly slowing down the escalating trend of home foreclosures. For the few that can qualify for a loan modification only 30% have been successful. Thus many of these failed loan modification homes end up being foreclosed upon.;)
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