captiola properties: 2010 Santa Cruz Market Forecast - 01/27/10 09:41 AM
2010 Santa Cruz Market Forecast
Over the last year, I have written numerous reports about the state of our local real estate market. As you know from these reports and the general media, we are in one of the most compelling real estate markets in our lifetime. This is demonstrated by interest rates being near all time lows, home prices plummeting at record rates, and we have not seen this many bank foreclosed properties since the Great Depression.
2009 was a great year for buyers at the low end of the market (Homes under $500k) and was the major … (0 comments)

captiola properties: 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)

captiola properties: Santa Cruz Market Segments - 11/11/09 09:49 AM
As we near the end of 2009, there are some trends that have developed in the Santa Cruz Real Estate Market. For example, the low-end of our market has been on fire. We are seeing multiple bids on homes priced less than $500k. This is a result of several different factors, first is the availability of loan programs thru FHA, Freddie Mac, and Fannie Mae, second is the First Time Buyers $8000 credit, lastly a steady volume of bank owned and short sale properties with low prices. As seen by the chart below we have more property pendings that available home inventory. Thus … (0 comments)

captiola properties: 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)

captiola properties: Santa Cruz Beach Home Values - 07/15/09 05:36 AM
Santa Cruz Beach Home Values
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)

captiola properties: 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)


Steve Johnson

Capitola, CA

More about me…

Monterey Bay Properties

Address: 620 Capitola Ave, Capitola, CA, 95010

Office: (831) 588-0254

Mobile: (831) 588-0254



RSS 2.0 Feed for this blog