Many Silicon Valley homes are now receiving multiple offers; many with all cash. The uptick for that market has been phenomenal, and is, in part, due to the declines in the stock market and the crazy goings-on in politics. The buyers see real estate as a safe haven for their money, and those getting loans are effectively competing to purchase because the interest rates are low. Santa Cruz County real estate is usually 6 months behind the pace set by Silicon Valley, so we are hoping some of their good fortune trickles over the hill in the form of greater demand for homes here, which will clear out some excess inventory and normalize the flow of homes listed, homes pending, and closed homes sold. We all want what is best for the consumer, which I believe is a level of inventory that gives buyers good choices and a level of demand that allows sellers to go on the market with some assurance that their home will sell if priced well, and if it has been properly maintained.
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