We all have been waiting to hear "Where is the Market Bottom". Do you see signs of recovery? How long before it's over?
The first thing you need to understand is, All markets are 'Local'. When you start paying attention to 'National Statistics' you are 'globalizing' when you need to be 'localizing'
With that said, let's dive in.
What's been feeding the supply and dragging the prices down? What caused the bubble? The pain and the crushing of peoples plans for their retirements?
There are so many factors and this had taken place over several decades of regulation and law changes by our Government, the Greed factor, dishonesty by many in several areas in our business sector to create the perfect storm of collapse.
In the past several years, the steady price decline has been punishing and only those that have had to sell, 70% being the 'distressed seller' (see past posts), the other 30% seeing signs in their portfolios of unease and deciding to make a move before they have too!!
Well, I can't say it is over and from what I hear at conferences and seminars all by noted professionals in my industry, we are about to see a new wave of properties coming on the market by the 'Banks' holding back REO's.
The bright side is that with this pent-up demand by those wanting to make a change, many renting to see which way the wind is blowing, Buyers are striking in a fevered pitch those REO's, short sales and many of the lower priced homes with multiple offers. The market is primarily focused on the $700,000. and below range and one can get a pretty nice property for that. If you check out the following published info you will get a feel for what is happening. The underlying facts to come away with, are that Santa Cruz is very desirable! No matter what the climate in the markets are, our little hidden gem, is still in demand.
To the 'Outsider' it offers World Class access to natural surroundings that enchant, enthral and effect one in a mystical way. The ability to fit in and grow into what you want to be anywhere in the county makes Santa Cruz such an attractive and receptive home.
To the 'Locals' the traditions, secret spots, natural beauty that is just normal to us, activities that are ingrained, the perfect weather and the varience of riches that keep many of us calling it home.
There is an ambiance to Santa Cruz. It has a draw that is world class and scenery that is UNBEATABLE! I have walked, hiked, run, swam, kayaked, biked, etc. many a spot, Santa Cruz is a destination place, that can satisfy so many pleasures. This demand will not go away any more than the sun will stop shinning.
http://www.santacruzsentinel.com/localnews/ci_15156003
The first thing you need to understand is, All markets are 'Local'. When you start paying attention to 'National Statistics' you are 'globalizing' when you need to be 'localizing'
With that said, let's dive in.
What's been feeding the supply and dragging the prices down? What caused the bubble? The pain and the crushing of peoples plans for their retirements?
There are so many factors and this had taken place over several decades of regulation and law changes by our Government, the Greed factor, dishonesty by many in several areas in our business sector to create the perfect storm of collapse.
In the past several years, the steady price decline has been punishing and only those that have had to sell, 70% being the 'distressed seller' (see past posts), the other 30% seeing signs in their portfolios of unease and deciding to make a move before they have too!!
Well, I can't say it is over and from what I hear at conferences and seminars all by noted professionals in my industry, we are about to see a new wave of properties coming on the market by the 'Banks' holding back REO's.
The bright side is that with this pent-up demand by those wanting to make a change, many renting to see which way the wind is blowing, Buyers are striking in a fevered pitch those REO's, short sales and many of the lower priced homes with multiple offers. The market is primarily focused on the $700,000. and below range and one can get a pretty nice property for that. If you check out the following published info you will get a feel for what is happening. The underlying facts to come away with, are that Santa Cruz is very desirable! No matter what the climate in the markets are, our little hidden gem, is still in demand.
To the 'Outsider' it offers World Class access to natural surroundings that enchant, enthral and effect one in a mystical way. The ability to fit in and grow into what you want to be anywhere in the county makes Santa Cruz such an attractive and receptive home.
To the 'Locals' the traditions, secret spots, natural beauty that is just normal to us, activities that are ingrained, the perfect weather and the varience of riches that keep many of us calling it home.
There is an ambiance to Santa Cruz. It has a draw that is world class and scenery that is UNBEATABLE! I have walked, hiked, run, swam, kayaked, biked, etc. many a spot, Santa Cruz is a destination place, that can satisfy so many pleasures. This demand will not go away any more than the sun will stop shinning.
http://www.santacruzsentinel.com/localnews/ci_15156003
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