What is your prediction for the 2018 Real Estate Market in Santa Cruz County?

By
Real Estate Agent with BAILEY PROPERTIES CA BRE# 01897214
Happy New Year Everyone!
Here we go!  January 2018..  I expect it to mirror 2017 in most ways. WE have "The Technology Center of the World" just over the Santa Cruz mountains in Santa Clara Valley, This extremely strong technology business community shows no indications of slowing down anytime soon.  WE are reading in the news now that many of this areas world leading tech companies are now buying up downtown San Jose , as it has a great transportation structure already in place. Setting the pace for more huge growth , which will bring an even larger population as their workforce of the future.
 
This winter,  i have been very grateful,  as my current Listing's and Coming Soon's have and will keep me busy well into 2018. I only share this as what I am seeing this winter is a very focused , prepared buyer.  Properties in the median market, prepared for sale, and priced properly?  Are still getting a lot of interest, are selling quickly and above asking. In 2018 i also do not see any new tax implications that will effect this market sector.
 
Properties above the 1.05 - 1.4 million mark always take a little longer to go into contract, as these buyers can afford a lesser priced property. However, depending on what part of the county the property may be will make the difference in a buyers interest. In 2018 we may or may not see strength or weakness in some Listing Prices in this category. I only say this as, as it will be the same low inventory, supply and demand issues, with buyers working and living in Santa Clara Valley that will continue to look at Santa Cruz for their new home, as our property values are much lower here. The new 2018 tax laws with the $750,000 max interest deduction will hurt only some buyers with high incomes, who do not have enough savings for a large down payment, though who are looking to purchase in the higher price points. What is usually the case with homes in this value range is the buyer often comes in with a large down or often cash, which will surely make this interest cap a non issue for these buyers. 

 

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