Santa Cruz Real Estate Digest, Ed. 61
In This Month's Issue
Transaction Velocity Continues to Rise, Especially with Larger Homes

Safeguarding Your Home’s Equity: Steps to Take to Prepare for a Home Inspection

Christine's Corner: 9 Ways to Improve your Offer on a Home
Real Estate Market Statistics

For Santa Cruz, Santa Clara, and Monterey

These reports contain average and median home prices, real estate market trends and statistics, information about mortgage rates and more.





Transaction Velocity Continues to Rise, Especially with Larger Homes
Recent analysis has revealed that even in the midst of the pandemic, the housing market is thriving. According to the National Association of Realtors, total existing-home sales rose by 24.7 percent from June to July, and sales as a whole rose 8.7 percent year-over year.
In fact, their analysis concluded that it was the sharpest monthly sales gain recorded since 1968 (the year NAR began collecting housing data).
With the sizable shift in remote work, current homeowners are looking for larger homes and this will lead to a secondary level of demand even into 2021.”
Safeguarding Your Home’s Equity: Steps to Take to Prepare for a Home Inspection
Your house is on the market, and you have a serious buyer interested or you are preparing your home to go to market. This is always the best news but also not the time to become complacent.

In most cases when you are selling your home, the buyer will request a home inspection during escrow. Not only is it sometimes required by lenders, but most buyers will want to assess the condition of the home before closing escrow to ensure they are making a good investment.

With this in mind, you as the homeowner want to guarantee the inspection goes smoothly, so the buyer has no reason to re-trade on their offer – Therefore, preparation is key!

To safeguard your home’s equity during this process, here are some steps you can take to prepare:
Christine's Corner: 9 Ways to Improve your Offer on a Home
Earlier this year we started to witness an increase in transaction velocity for homes across the county. As people transition their routines and adopt a work-from-home lifestyle, many are making the leap to new homes to accommodate the need for larger spaces.

This has been especially true in the luxury home sector, where individuals have been seeking more remote, luxurious homes to make stay-at-home orders more comfortable.

There has been an overwhelming amount of competition for specific houses. This results in potential buyers being faced with the challenge of beating out their competition. For those who have been confronted with this problem, there are a few avenues through which you can take to improve your offer and ensure that you win the bid on your future home.
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