April 2014 Santa Cruz Market Update
The median list price in Santa Cruz this week is $795,000. The 137 properties have been on the market for an average of 103 days. Demand measured by the Market Action Index is increasing and days-on-market is trending downward. Even as more properties come available, these are positive trends for the market. The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we're in the Seller's zone. Watch for changes in the MAI. If the MAI resumes it's climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer's zone, watch for downward pressure on prices.
Characteristics per quartile
Prices appear to be hovering around their high point. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these.
Prices have settled at a price plateau across the board. Prices in all four quartiles are basically mixed. Look for a persistent shift (up or down) in the Market Action index before prices move from these current levels.
Price per Square FootThe market plateau is seen across the price and value. The price per square foot and median list price have both been reasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves from these levels.
Inventory of Properties Listed for Sale
Inventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.
Market Action Index
The SANTA CRUZ market is currently in the Seller's Advantage zone (greater than 30). The 90-day Market Action Index stands at 30.78 which indicates that demand is strong and available supply of homes gets snapped up relatively quickly.
Market Action Index per Quartile
Not surprisingly, all segments in the market are showing high levels of demand. Watch the quartiles for changes before the whole market changes. Often one end of the market (e.g. the high-end) will weaken before the rest of the market and signal a slowdown for the whole group.
Days on Market
The properties have been on the market for an average of 103 days. Half of the listings have come newly on the market in the past 49 or so days.
Days on Market per Quartile
It is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.
Tap Our ExpertiseOh by the way, did you know you can now get an automated investment analysis of your neighborhood - complete with Active, Pending and Sold homes all mapped out - sent directly to your email inbox every month? Now you can always know the value of your home. Try it today. It's informative, it's accurate, and it's free. Oh, and please tell a friend or neighbor too!
Even if you're not ready to buy or sell a home right now, we would be happy to keep you up-to-date on developments in the real estate industry, mortgage financing and our local market. Simply reply to this e-mail or give us a call!
Check it out and see what you think at Free Market Snapshot
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1414 Soquel Avenue
Santa Cruz, California 95062
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Keller Williams Realty
BRE License #01014048
The opinions expressed in This Month in Real Estate are intended to supplement opinions on real estate expressed by local and national media, local real estate agents and other expert sources. You should not treat any opinion expressed in This Month in Real Estate as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of opinion. Keller Williams Realty, Inc., does not guarantee and is not responsible for the accuracy or completeness of information, and provides said information without warranties of any kind. All information presented herein is intended and should be used for educational purposes only. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. All investments involve some degree of risk. Keller Williams Realty, Inc., will not be liable for any loss or damage caused by your reliance on information contained in This Month in Real Estate.
Friday, April 11, 2014
Thursday, March 06, 2014
That’s the amount of unclaimed property being held by the state under California’s Unclaimed Property Law. Our state controller, John Chiang, has created an online process that allows residents to easily see if they have unclaimed money from old accounts that include, bank accounts, stocks and dividends, mature or terminated insurance policies and trust funds and escrow accounts.
The amounts range from 25 cents to over 100 dollars and it only takes a minute to see if you have any money to claim and, if you are the account owner or heir, it is free to file a claim.
Go to this web address, www.claimit.ca.gov.
On the left of the page you’ll see Online Claim Services. Click “Start your search.”
Enter your last name then click “Search.”
If your name, address and city show up in the search results click on the “ID Number” and you’ll see how much money can be claimed and from what account.
Select “Claim this Property” and proceed to fill in the online form as required.
That’s it! The controller’s office reports that claims can be processed as quickly as 14-days.
Details are available on the main page, including Frequently Asked Questions: www.claimit.ca.gov
Friday, November 08, 2013
The Frank Murphy Team Real Estate Search
Because your home search should go where you do.
Get the most accurate and up-to-date real estate information right at your fingertips:
· Easily connect with your agent and send property inquiries instantly.
· Draw a circle on the map or drop a pinpoint to search that area.
· See property details and full-screen photos, get driving directions, mark your favorites, create notes about what you liked, or share it with family and friends.
· Estimate your home loans with a free mortgage calculator.
· View Open Houses in your area. View Rental Properties in your area.
Enter Agent Code KW2D5P8QK
It is a mobile app that allows you to connect with the Frank Murphy Team. This GPS-enabled app allows you to easily search for properties, view local property details with photos, create notes about what you like for each property, share property information with family and friends and much more.
This user-friendly, robust app makes finding a home to buy or rent snap. You don't only have access to homes associated with a the Frank Murphy Team, but access to all homes in the MLS database. Save searches and listings based on your dream home criteria. Plus, the Frank Murphy Team is just a click away to provide more information or schedule a walk-through.
With this app, the Frank Murphy Team has another crucial outlet to find home buyers. Your home automatically appears in this GPS-enabled app with a stylish photo gallery and listing details to showcase your home whether the homebuyer is searching at home or on the go.
Ask your agent for the web site link to download their app directly from your smartphone or tablet.
Enter Agent Code KW2D5P8QK
Depending on your device, choose the Apple App Store or Google Play Store to download. Then enter their personal code to make him or her your Keller Williams agent within the app.
On the iPhone, iPad and Android phones, the app icon will appear on your menu screen along with other apps you have downloaded.
The fully downloadable mobile app is available for the following:
Soon, a mobile web version similar to the app will be available when you visit www.kw.com from your smartphone web browser.
No, this app is FREE to download.
The downloadable app and the mobile web version allows The Frank Murphy Team Real Estate Search to reach virtually every cell phone and tablet user. If a cell phone cannot support the full downloadable app or if your carrier charges a fee for your device, then the free mobile web version is the best alternative for property search from your cell phone.
Yes, if a commercial listing is included in the data feed that you are searching, then they will be included in the search results.
This message will appear if you are in an area that does not have a The Frank Murphy Team Market Center with MLS access.
The version available in the app stores is the The Frank Murphy Team national version. Use this version if you don't yet have a Keller Williams agent to find one in your area. Just tap on Office Search or Agent Search in the app.
No, you can search anywhere!
My phone has GPS capabilities, but I'm not given an option to search using GPS with The Frank Murphy Team Real Estate Search. Why not?
On some phones, the carrier locks out the GPS ability to third-party applications such as The Frank Murphy Team Real Estate Search. This is
common with older BlackBerry models. Since the release of the BlackBerry Storm, all newer BlackBerry devices have GPS capabilities within the Frank Murphy Team Real Estate Search app. If your phone does not offer the GPS search, you are still able to search by address, zip code, city, or listing number.
Many GPS-enabled phones require a clear view of the sky in order to get an accurate location. Try changing your location and search again. GPS search will not work indoors with some phones.