Category: Real Estate

Real Estate News You Can Use By M.C. Dwyer The biggest real estate news happened mid-June when the Federal Reserve raised its lending rate by a stunning 0.75% for the first time in nearly 30 years. Usually rates adjust in 0.25% and 0.5% increments. Fed policy members agree another 0.75% increase will follow: the goal is reducing runaway inflation of… Read More

By M.C. Dwyer Summer weather is here — Boulder Creek recorded a high of 99 recently, Scotts Valley hit 95 — even if the season doesn’t officially start until June 21st. Right now we’re at the height of the home selling season, and home prices are sizzling like a summer bar-b-que. But the average 30-year mortgage rate is 2% higher… Read More

By MC Dwyer Commercial real estate is heating up along with seasonally rising spring temperatures.  In Felton, an iconic downtown ½+ acre parcel featuring +/- 7,000 square feet of mixed use residential and retail buildings at 6245 Highway 9 just listed for $1,995,000.   Boulder Creek  Curious about the mixed use commercial / residential project still under construction along Highway 9,… Read More

By M.C. Dwyer As the flourish of spring blossoms cascades across plant species – beginning with fragrant daphne and tulip trees, on to native western redbuds and cherry blossoms, through my personal favorite lilac, climbing old fashioned roses and dogwood – one can almost forget man-made issues like inflation, rising interest rates, and global unrest… But economic change is upon… Read More

By M.C. Dwyer Multiple offers continue to be the norm here for Santa Cruz County home sales, where sellers often go into contract with buyers quickly – within 2 weeks on average, but often within a day or two. Sellers often profit from buyers paying a hefty premium over asking price. The stats so far through March are eye-popping: Across… Read More

By M.C. Dwyer One of the biggest changes in the housing market over the past month is rising mortgage rates. Even though home mortgage rates are set independently by each lender, the impact of the Federal Reserve’s announcement that they plan to to fight inflation by raising the rates they charge banks, caused a reaction in the bond market. Conditions… Read More

By M.C. Dwyer The California Association of REALTORS® just presented their 2022 economic outlook, expecting home prices to appreciate around 5%. It’s possible California peaked in August 2021 with a median home price of $830,000. 20% of homes for sale in SLV & SV have dropped their asking prices – but 80% of those price reductions occurred on homes in… Read More

By M.C. Dwyer Santa Cruz County attracts home buyers from the greater San Francisco Bay Area, as our prices are relatively lower while our lifestyle is arguably better. The premium paid over asking price dropped overall from about 5.5% to about 2.75% in Santa Cruz County, but remains at about 7% in Santa Clara County. The time it took for… Read More

By M.C. Dwyer Defensible Space Inspections Under Assembly Bill 38, most property sellers in “High or Very High Fire Hazard Severity Zones” must document that their property is in compliance with this new law. To find out if you are in one of those zones, you or your real estate agent can order a Natural Hazard Report.  There are also… Read More

By M.C. Dwyer Let’s look at the reasons why home prices keep rising in Santa Cruz County.   Average Home Sales Price 3rd Quarter 2021 * Average Home Sales Price 3rd Quarter 2020 San Lorenzo Valley $885,976 $754,768 Scotts Valley $1,510,786 $1,250,804 Santa Cruz County $1,355,142 $1,203,893 Santa Clara County $2,022,547 $1,718,857 Pandemic mass migration – People were home more… Read More