Purchasing a home in Santa Cruz and the surrounding Santa Cruz County is no budget purchase. Purchasing a home is one of the largest expenses many people will pay for in their lifetime. So it is very easy to see why people want to make sure they are purchasing a home that is the way they want it and expect it. When inventory is low finding that home you have pictured in your dreams may be difficult. In some cases, it might mean that the home is just outside of your budget. So what is a Santa Cruz buyer to do if they can't find a home that they love?

Ask yourself if it is possible to wait a bit

The real estate market is an ever-changing beast all across the world. There is no market that stays in the same conditions continuously. They are always changing whether it is home prices, the amount of available inventory for sale, or what location is most desirable. There is a whole slew of factors that can change how the real estate market conditions are at any given time. If you are unable to find a home that you truly love and want to invest a large amount of money, it may be best to sit down and write out what you will not settle for or let go of when purchasing a new home. It may mean that you might be better off waiting until the number of homes for sale has increased. If you are not in a rush or need to purchase a home in the next few months waiting may be the best option for you.

The good thing is you don't have to wait it...

It is not uncommon for anyone caring for a loved one that is in the golden years of their life to come to a point where they feel they need to help a loved one into a new home that better suits their current physical abilities and needs. But transitioning into a new home and often downsizing can be an emotional or difficult and a significant life change especially if your loved one does not feel they need to make the change

Any type of new home purchase and move can be stressful for any homebuyer at any stage of life. It is a lot of work to put a home up for sale, pack it up, and move into a new one even if the home is the same size or larger. Downsizing to a new home is understandably stressful as well. But there are some things with the right knowledge about this life change that can make the process a little less so for both you and the person making a change in their everyday living style and location.

Make sure you have a real estate agent that understands

Having the right agent on your side can help to make this process a lot less stressful. Did you know there are trusted real estate agents with specialized training to help with senior real estate details on many very different levels? Whether someone in their golden years needs assistance finding the perfect home to age in place or help to find an assisted living community or a better understanding of the best services available to them in their current stage of life. Specialized real estate agents can offer better insight and more understanding to buyers and sellers in this special time of life.

Working...

Another strategy is to focus on a human-centric design approach by choosing materials or components that may be interacted with and can contribute to the household’s physical and emotional experience as a whole. While selecting décor or furniture, it’s necessary to consider how the item will work with other chosen items, if it’s capable of enriching the intent of the space and how it will interact with the space’s natural elements, such as air, sound, light and temperature.

For additional design tips on engaging each of the five senses, please see the accompanying resource.

Graphic created by Nicole Franco.

Starting with the exterior, some red flags homeowners may not notice until they become a problem are related to the gutter system. While practicing routine upkeep, look out for pooling water, peeling paint and sagging or damaged seams. These warnings may indicate repair is needed to help properly direct rainwater runoff, or that the house might benefit from having a gutter protection system installed. If faulty gutters aren’t addressed in time, it could lead to leakage and subsequent water damage or mold growth both inside the home and out.

Graphic created by Guided Solutions.

Living near the beaches in Santa Cruz County is a dream come true for many people. Santa Cruz and its surrounding areas have many gorgeous outdoor spaces and the beach areas happen to be the most popular. When you live on or near the beach there are many advantages. Here are some of the top reasons so many people find living near the beach in Santa Cruz desirable. 

The Scenery 

We thought we would get the most obvious reason out of the way first. The most popular reason for living near the beach is to benefit from the stunning scenery right outside your window all the time. There is just nothing quite like looking out your window and enjoying the gorgeous picturesque sights any time you want. There is something so peaceful about taking some time to stop and enjoy it too. 

There is a Laid-Back Culture to the Beach Lifestyle

A majority of beach communities have a laid-back culture around them. There is something about the water that is calming and resets the pace of life just a bit. This brings a relaxed atmosphere that is somewhat stress-reducing. Who doesn't want an easy way to relieve stress right outside their door?

Entertainment at Your Fingertips

There are countless opportunities for outdoor fun at the beach in Santa Cruz. Living near the beaches allows for a plethora of water sports to be enjoyed. If you live close to the Santa Cruz Pier...

When it comes to purchasing a home in Santa Cruz many home buyers may be apprehensive when it comes to two words: down payment. The down payment on a home is an out-of-pocket amount of money that the buyer puts into the purchase of the home. It is like a qualifying deposit for your home mortgage loan to help communicate to your mortgage lender that you are putting your money where your mouth is. That you are taking the purchase seriously and not just asking for money you do not plan to be responsible with and pay back over time.

The traditional talked about number for a down payment to qualify for a loan has been 20% of the total home purchase price. While this is still a good number that can help homebuyers to secure the best mortgage loan terms it is a misconception that it is a requirement. Some homeowners have been led to believe that unless they have 20% of a home price in cash ready to go when they purchase a home, they will be unable to purchase one.

Looking into current statistics from recent purchases

There is good news for anyone in Santa Cruz considering purchasing a home in the near future that may not have the full 20% to make for a down payment. Looking into the actual numbers of real home purchases across the country recent homebuyers put far less down on their home purchase than the traditional 20%.

There are more options available to homebuyers that do not require the 20% down payment. When looking at the averages of what recent home buyers...

If you have an aging loved one who needs more help at home, it may be time to consider whether moving is a viable option for you and your family. Determining what your next move is can feel stressful and overwhelming, but with the following tips, you can see it through to the end to help your family.

Assess Your Loved One's Needs

Consider the person's abilities when thinking about your loved one and their needs. For instance, how much family support do they have in the area? How well can they take care of hygiene and healthcare?

According to the experts, some older adults can continue to age in place. To continue to live at home, determine your loved one's situation and whether living at home makes sense. How well can your loved one get around the home? Sometimes, you may have to help make the home more accessible. For instance, a two-story house may be difficult for someone with mobility issues to navigate. You can also investigate some home products that can make their lives easier. Always read expert reviews before purchasing anything.

If your loved one is intent on staying in their home, a certified professional can inspect the home and determine what renovations may help your loved one function more productively in their environment. Alternatively, you can work together to find a more accessible place for your loved one to live. There are many senior-friendly ...

When you live in Santa Cruz you instantly fall in love with the natural surroundings and become more aware of living peacefully in the environment. Santa Cruz is full of the most amazing landscape anywhere on the planet. For this reason many of the people that live in Santa Cruz and the local government have had a commitment to being good stewards of the land that we live in to keep it beautiful for several generations to come.

 For this reason purchasing a green home in the Santa Cruz area is highly desirable and many buyers looking for Santa Cruz homes are hoping to find green properties. 

 What constitutes as an eco-friendly green home in Santa Cruz?

 You may have heard several different terms used to describe these type of properties such as earth friendly, eco-friendly, green, energy efficient and so on. When it comes to finding an eco-friendly Santa Cruz home it can mean something different to each person. Many times the classification has to do with the aspect of earth friendly living that is most important to the buyer. Here are some attributes you will find when searching for eco-friendly properties in Santa Cruz:

 Building materials

 Some homes that advertise as eco-friendly are describing the building materials in which the home was built from. This can mean that materials were used from reclaimed and re-purposed items or are from sustainable resources. It could mean that the flooring is bamboo or the home...

For several decades spring has been the peak time to sell and purchase real estate all across the country. This could be because the weather is better and more people are looking to get out and ready to make adjustments as they come back into more hours of sunlight and great weather. The benefit to spring is that more people are looking for homes and the weather allows you to show your home in a better light as well.

As more inventory comes to the market this means sellers will have a bit more competition in the spring selling season. While inventory is still what is considered low there is a bit more competition than there was over the past few years. It is a great idea to make sure your home looks its best even when selling in peak real estate season.

Here Are some tips for preparing your Santa Cruz home for a spring sale

Clean, clean, clean, and clean again

One of the best ways to show that your home is in great condition and has been well cared for is to make sure it is as deeply cleaned as possible. The cleaner your home the better it is going to show when people come to take a personal tour. The best route for getting this executed is to consider investing in deep cleaning from professional maid services. Often when we live in our homes we get super comfortable in them and don't realize some areas of hidden dirt. Hiring deep cleaning services for both the inside and outside of your home can make it feel like a completely different and seemingly brand-new...

In the greater Santa Cruz area there are many different 55+ living communities especially in the Caramel by the Sea area. 55+ active retirement communities often advertise their living culture as a dream of being within a community that offers plenty of exciting activities to enjoy with people in the same stage of life. But what is a 55+ community? Should you purchase property in one?

A description of the average 55+ living community

Many times these types of housing communities that focus on adults aged 55 and above may have descriptive phrases included like independent living or active senior living. You may have heard many different names for 55+ communities as well as a long list of attractions offered to residents within the community.

Though they are sometimes mixed up with similar living situations like assisted living they are not medically focused facilities. These communities offer a focus on a specific type of homeowner that is at the age of 55 or above wanting to purchase a home within a community that offers the ability to have community with other people living in the neighborhood and enjoy some planned activities and community amenities with their neighbors.

If you are an adult at the age of 55 or older and are still active in your lifestyle needing little to no assistance with your daily activities this type of residential community can sound very promising and intriguing. Is it a good investment to purchase a home...

Moving to a brand new location can take some time to acclimate to a new culture and pace in daily life. Sometimes it can even feel lonely until you meet some people that live there and find your new friend group. One of the best ways to feel like you are part of the community is to join a local club. If you are considering a move to Santa Cruz or have just moved here there are some fun clubs available to you. 

Here are Some Santa Cruz Clubs to Join 

Roller Derby

Want to try something new and active? Why not hop on the growing trend of roller derby? There are derby teams of all different skill levels available through Santa Cruz Roller Derby, Santa Cruz Derby Groms, and the Boardwalk Bombshells a women's team that competes in the Women's Flat Track Deby Association. 

Embroidery

If you are of the crafty mindset the embroidery club may be of interest to you. The Stitchers by the Sea meet monthly as a branch of The Embroiderers' Guild of America. They showcase, learn a new technique, and glean knowledge about the craft from each other. 

Surfing

With some of the greatest beaches on the California coast, there is surely a surfing club to join out here. Surfing is actually the largest sport in Santa Cruz County. This is a very good way to meet new people in Santa Cruz. There are clubs available to surfers of all levels including anyone who has never surfed before. Surf School Santa Cruz is a good...

Most people recognize the Santa Cruz area for its great beaches, iconic boardwalk, attractions, and scenic properties. Recently many young professionals have been moving into the area because of the high quality of living, amazing outdoor activities, great local restaurants and shops, and more. 

The Most Popular Areas of Santa Cruz County for Professionals

City of Santa Cruz

Being the city for which the county has been named it is no big surprise that Santa Cruz is highly desirable to young professionals. Santa Cruz offers a cultural hub to the county right on the coast. It has some of the most amazing beaches, is the spot of the original iconic beach boardwalk, there's plenty of entertainment venues and nightlife, and the small town atmosphere with plenty of friendly residents and community pride is also a big plus. It is also a great place to further education for furthering your career at places like the University of California Santa Cruz.

The city of Santa Cruz has great job opportunities, especially in technology and tourism. There are several large multinational companies located in Santa Cruz and a good amount of tech start-ups as well.

Live Oak

Live Oak is a city that offers a peaceful atmosphere which has been growing in popularity over the last few years. It is a quiet suburb with more affordable housing options as compared to the downtown area of the city of Santa Cruz. It is also just 4 miles away from this area making it highly desirable if...

Seabright is a highly desirable neighborhood located in the central portion of the city of Santa Cruz California. Many people say that it is Santa Cruz's best neighborhood. When you ask why some may attribute it to its laid-back atmosphere and mixed-use offerings of both residential homes and trendy local shops, great restaurants, and bars.

Seabright shares a border on its west side with the San Lorenzo River and shares the eastern border with the Woods Lagoon. The residents of Seabright benefit from their own private beach. Seabright Beach encompasses about half a mile of shoreline on the south end of the neighborhood. The Walton Lighthouse is located on this beach. 

At the beach residents enjoy swimming, surfing, pretty much any beach land activity, dog-friendly space, and public washrooms. 

More Reasons to Love Seabright Beyond the Beach at Your Door

Restaurants

The Seabright area of Santa Cruz has some of the finest restaurants in the city most of the restaurants in Seabright are on the north end of the neighborhood located along Soquel Avenue which stands as Seabright's east border. Murray Street and Seabright Avenue also have a great collection of local restaurants. This paired with one of the best beaches in town makes it hard to ever leave your own neighborhood.

Santa Cruz Museum of National History

The Santa Cruz Museum of Natural History is located within the Seabright neighborhood. Making for even more fun activities the natural history Museum offers several exciting exhibits telling the history of Santa Cruz and beyond. The locals of Santa Cruz know...

As home values increase and mortgage interest rates are doing so as well many people are looking for affordable ways to purchase their next home. This has many people wondering where the most affordable areas in the desired location happen to be. For those wanting to live in the amazing town of Santa Cruz, this is not an uncommon question.

The factors that go into determining the affordability of a neighborhood can depend on a few different things including median income level, rent-to-income ratios, and home price-to-income ratios. These are the biggest driving factors that impact the cost of living in an area and can help to give fair insight into the quality of life in an area and the actual affordability of properties in that area. A median home price can help someone assess how much they might need to make from their income to afford properties in an area.

Based on the driving factors listed above we have a list of the most affordable neighborhoods to live in Santa Cruz.

Tanner Heights

Tanner Heights has a median home price of $715,691 and a median rent price of $2216. This by the numbers is the most affordable neighborhood to live in in the city of Santa Cruz. Based on an increase in home prices in the neighborhood over the past three years it shows up at number 1 compared to all neighborhoods in Santa Cruz.

Tanner Heights scores average in its public transportation offerings. Some errands can be accomplished by walking giving the area an average walk score as well. Some businesses can be reached from the Tanner Heights neighborhood on foot. Some of the closest businesses to Tanner Heights include Walnut Ave., Café, The ...

Carmel California or Carmel-by-the-Sea as it is also known is one of California's most picturesque coastal towns. It is often on many best-of lists and one of the most frequent best-of lists that Carmel can be found is California's Best Places to Retire.

Here are some of the best places to retire lists that Carmel has recently made

California.com"s The Best Coastal Towns in California to Retire

Caramel topped the category for quaint coastal retirement towns in california.com's article. The website notes that Carmel by the sea has an effortless elegance. It also shares Carmel's amazing white sand beaches and great local shops and dining opportunities with the most amazing views from pretty much any point in the town. And the majority of Carmel's residents are age 55+. They name it a can't-miss central coast beach town in California.

Stacker.com Best Places to Retire in California

Stecker.com ranks Carmel-by-the-Sea at number 19 out of 25 for the best places to retire in the entire state of California. They share some statistics about Carmel by the sea along with how they arrived at their data to compile what they believe is their best places to retire in California list. They noted that the most popular places on their list tend to have great walkability or proximity to healthcare sources and businesses of interest for entertainment and activities.

...

If you are looking for a home but do not have a large sum of cash to make a down payment an FHA mortgage program can be beneficial to you. According to the government's latest numbers, FHA loans may be very lucrative for those looking for some help in purchasing a home over the next year.

FHA stands for the Federal Housing Administration and they are the ones that back FHA loans to help a larger number of borrowers with a focus on first-time homebuyers to obtain mortgage loans to purchase homes. An FHA loan gives a borrower a chance to purchase a home by making a lower down payment of 3.5% as long as they have a credit score of 580 or above.

The FHA does not originate or fund the loans directly they work through agency-approved lenders. The FHA does however ensure these lenders against loan default. When you take out an FHA loan to purchase a home you will need to pay mortgage insurance premiums often referred to as MIP to help cover this default insurance.

MIP gets expensive and some mortgage and financial advisors have raised concerns about the monthly cost of mortgage insurance. But the latest FHA balance sheet can help to address insurance problems and may look more favorable for taking out an FHA loan in 2023.

FHA fund according to the numbers

The fiscal year for the FHA ending in September 2022 reported that there was $141.7 billion in cash on hand and the mutual mortgage insurance fund. This number increased by 41.2 billion from just the previous fiscal year. This fund is required to have a 2% raise or ratio. This means that it must maintain 2% of all possible insurance claims at the end of September 2022 the fund had a reserve ratio of 11.11% which is well above the required level....

 An assumable mortgage not only provides funding for a home buyer to purchase a home and move into the former seller's house but the opportunity to take over the former homeowner's loan. The buyer has the opportunity to take on the remaining balance of the current mortgage on a home as well as the repayment schedule and interest rate of that mortgage.

As mortgage rates are soaring much higher than anyone expected back in January of this year assumable mortgages are becoming more attractive to buyers that are hoping to find ways to get their interest rates down. For example, if a buyer takes on a mortgage loan originated in 2016 when the average rate was around 4% this could save a hopeful buyer a whopping 3% in interest points.

There is a twist to taking on the current mortgage on a property and that is that assuming the mortgage can only be done through a government-backed mortgage. These are loans including Federal Housing Administration FHA loans, Department of Agriculture USDA loans, and other government-backed loans. And in addition to assuming the home's current mortgage debt, the buyer will be responsible to pay off the difference between the mortgage balance and the home's current fair market value. This may cause a need for a second mortgage on the property.

How to assume an assumable mortgage

For a buyer to assume a current mortgage it requires the approval of the current loan servicer. If the buyer and seller enter into an agreement to assume the mortgage without the lender's knowledge they take a huge risk. If a lender finds out that a new homeowner has taken on the mortgage without their...

Purchasing real estate in your golden years is a unique and exciting process and experience. Mature real estate clients have different real estate needs that require a more customized approach to help meet buying goals that are important in a different stage of life. 

Hiring a real estate professional that is aware of these needs and has gained the certification of Senior Real Estate Specialist is important. A senior real estate specialist (SRES) can help senior adults to make more in-depth informed decisions about their specific real estate needs including relocating, purchasing rental properties, selling a family home, downsizing, and more. 

What is an SRES Realtro®?

In 1997 the Senior Advantage Real Estate Council or SAREC was formed. This council was put together with a focus on providing real estate professionals the education necessary to meet the distinct needs and interests of Americans over the age of 50 interested in buying or selling real estate. 

The designation of Senior Real Estate Specialist (SRES) is awarded to Realtors® that have completed training offered through the SAREC. Realtors® that are members of the SAREC have demonstrated they have the necessary knowledge, experience, and expertise through their focused specialized training to guide their senior clients in the buying and selling processes of both residential and investment real estate properties with their specific and unique goals at the forefront. These include all of the major lifestyle and financial transitions of all stages of life. 

Types of Senior Housing

If you are considering a move to a senior housing community you may have several questions...

Prop 19 in California is a tax benefit for certain homeowners. The Act has recently been expanded to be more beneficial to those who qualify for the benefits. 

What is Prop 19?

Prop 19 is the Home Protection for Seniors, Severely Disabled, Families, and Victims of Wildfire or Natural Disasters Act. This is quite the mouthful so most people refer to the Act as Prop 19. 

This is a property tax benefit that allows a homeowner of a primary residence in the state of California who is over the age of 55, severely disabled, or the victim of wildfire or natural disaster to transfer the primary residence (first home, lived in a majority of the year) taxable value to a new primary residence as long as that home is within the state of California. 

This act allows for transfer regardless of the location or value of the new primary residence home. It can be a home that is newly constructed or purchased as their new principal residence within 2 years of the sale of the first primary residence. 

Recent Prop 19 Expansions that Began in April !, 2021

The tax measure has expanded to be more beneficial for California homeowners needing to utilize the benefit. Prop 19 now allows replacement home purchases anywhere within the state of California. This means that a homeowner can retain a lower property tax bill that they paid on their first home when moving anywhere else in California to find a new or replacement home. 

The benefits also allow a homeowner to purchase a more expensive property. Eligible homeowners could make use of the new expansion rules to purchase a more expensive property. This does not mean that the homeowner's property taxes would not increase,...