Santa Cruz County housing price data for may 2008

Median Home Price by city in Santa Cruz County-    Home Sales Recorded in May 2008

Reporting single family houses and condos sales as a percentage of change is from the same month last year in the cities of Santa Cruz County,California.

 

The Santa Cruz real estate market is not as bad as the statistics read at first glance.This is the year to year data for the month of May 2008 against one years agos sales prices. One thing I have noticed is more activity as buyers, yes you reading this- are starting to move out of the negative paralyzed by fear -zone that the media portrays so well, and buy. Pat yourself on the back. If a few years you will see the wisdom of your faith.There are some terriffic values and people are buying them. No one has a chrystal ball, but generally I think we have found a bottom. So how do you read these numbers? I generally believe that our prices in most areas corrected about 20%. Some areas, particularly Watsonville is more in the 25-40% range. These numbers for that area affect things as a whole.

The good news is that if you are a seller, and buying in this market, they are some great values to be found and a good general supply of inventory- read homes- to buy. Many investors are buying foreclosues in Santa Cruz, and particularly in Watsonville. In fact there are numerous times of multiple offers on these Watsonville homes. I have recently seen in good quality homes and locations multiple offers in the Santa Cruz real estate market. This seems contrary what is portrayed. So read the statistics with a grain of salt, make that a shakerfull.

The bad news is that while loan rates are going up, and loans are difficult to get, the lenders are still making loans. See an experienced loan officer like Woodward-O'Connor Mortgage for your loan. These are times where the lending is very challenging and the loan guidelines change daily. To see what are available properties in Santa Cruz, or see what short sale and foreclosed homes may be of interest, go to www.propertyinsantacruz.com or call Gregg at 831-818-7524.