Santa Cruz Real Estate Digest, Ed. 56
In This Month's Issue
Paying Your Rent or Mortgage Amidst the COVID-19 Pandemic

How Have Epidemics and Pandemics Historically Impacted the Real Estate Market?

Christine's Corner: Real Estate Loans in a Pandemic: Even if there are houses for sale, Can I get a loan? Can I refinance with these low rates?
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.





Paying Your Rent or Mortgage Amidst the COVID-19 Pandemic
Since the outbreak of COVID-19, businesses have been shut down, thousands have been laid off from their jobs, millions have applied for unemployment, and people have been asked to stay at home until the pandemic is under control.

With all of this being said, homeowners and renters are now faced with the challenge of paying rent, even if they do not have the income to pay. In this article we will outline government initiatives that are protecting homeowners and renters, as well as solutions both can take if they are facing financial difficulty. 
How Have Epidemics and Pandemics Historically Impacted the Real Estate Market?
As we navigate the enormous changes that COVID 19 is bringing to how we work and live, many industries have essentially gone dark, closing down while they wait out the storm. Naturally, homeowners and real estate professionals are wondering how this pandemic is going to impact their industry and investments. The best way to assess how the future will pan out is to take a look back at our history to find out how other similar scares have affected the real estate market.
Christine's Corner: Real Estate Loans in a Pandemic: Even if there are houses for sale, Can I get a loan? Can I refinance with these low rates?
The Fannie Mae and Freddie Mac market is alive and well. That is loans up to $510k and in some high cost counties across the US, up to $765,000. Rates are the lowest in a long time. No changes have been made yet to underwriting guidelines.

Jumbo loans, which are loans above the Fannie and Freddie loan amounts, is starting to tighten. Bank of America has announced That Santa Clara County and Santa Cruz County are declining markets and now require 25% down on any jumbo loan. Learn more below.
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