Is Real Estate a little Off?

Yes, the Real Estate Market is a bit out of kilter, but this is an incredible time with interest rates at historic lows to BUY YOUR FIRST HOME.

Make this your time to take advantage of these incredible low, interest rates, prices for this area and the phenomenal abundance of great properties in one of the most beautiful spots in the world!

There are so many GREAT properties and the tax incentives are fantastic, This one is GOLD just waiting to be mined!


Call me, I would love to help you make the BEST decision of your life, with all the BEST local professionals at your disposal.

Marlene Henderson, Broker/Owner
MoeBEST-Henderson Properties and
Property Management

831-429-9091

831-419-9091

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What Buyers have been waiting for!

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Santa Cruz Ca. Real Estate is Strong and here's the proof!

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 Next Wave of Foreclosed Properties - Here they come!

As mentioned in a previous post, the foreclosures, REO's, short sales or just plain ol' properties in distress will be making a robust appearance in June 2010 as advised by CAR ( Calif. Assoc. Of Real Estate).
With my re-certification or basically updating of information from all the new regulations that have been cascading out to REALTORS with this steady supply of distressed properties I have a current understanding of the latest criteria available to buyers for these properties. This is not my chosen source for buyers but now that Banks own them, there is no alligence an agent feels to this "seller". Some spectacular prices now on many of these properties - typically 50% off prices of 2005!! The qualifying criteria is very stringent but if this is to be your HOME and you are setting down roots, what a great opportunity!
Check out these several links to see some of the gems in Tahoe and Santa Cruz that are truly bargins.

Don't Miss the Boat for the second time!

In my weekly reading of C.A.R.'s newsletter and my analysis of mortgage rates and the prices being asked for properties now, this is an article that is an understatement to what I have been (Screaming) sorry I get excited! Prices have dropped back down to what I had seen in 2001-2003. So if you thought you were out of the running, or locally -"Missed the Boat" here is your second chance -- don't miss it!

Buying is now cost-effective for some renters

Many renters debating whether to buy or rent their homes are realizing that the increase in affordability, coupled with low interest rates and tax incentives, are tipping the scales toward homeownership.



MAKING SENSE OF THE STORY FOR CONSUMERS



· An analysis of 45 metro areas by the Associated Press found that the gap between the monthly mortgage payment on a median-priced home and the median rent has decreased from $777 a month to just $221 in the past three years.



· In markets across the nation, including the inland areas of California, prices have declined by nearly 40 percent, resulting in rising sales as first-time buyers use a federal tax credit that covers 10 percent of the home price, up to $8,000.



· Favorably priced foreclosures in some markets are drawing multiple bids. Many housing experts believe that as supply and demand even out, home prices will eventually begin to rise, but for now most buyers are having little difficulty finding affordable homes.



· Qualified first-time buyers may be eligible for loans insured by the Veterans Administration (VA), which does not require a down payment. Another loan product gaining popularity are those insured by the Federal Housing Administration (FHA), which require only a down payment of 3.5 percent.



· It is important that potential home buyers not only look at the monthly mortgage payment compared with their monthly rent payment, but that they also consider other costs associated with homeownership. These can include homeowner association (HOA) fees, insurance, maintenance, and utilities, which most renters are not responsible for paying.


For the full story Call: Marlene Henderson