Santa Cruz Real Estate
• • • • •

If you’ve considered selling your home in a slow real estate market you may wonder if you can get a fair price for your home. Fortunately, you don’t have to be afraid of the rising foreclosure rate. Smart sellers know how to compete with foreclosures when selling their Santa Cruz home.

1. Smart sellers ask for what their home is worth. You need to set your asking price based on the market value of your Santa Cruz home. The bank wants to get as much money as possible for their properties. Their asking price for foreclosures is as close as possible to the current market value of the home.

2. Smart sellers make sure their home is in its best possible condition.  Before your home goes on the market, touch up paint, replant the garden, and service appliances.  If a foreclosed home is selling for significantly less than other homes in the area, it is usually because the home needs major repairs.

3. Smart sellers give information to their potential buyers.  Tell potential buyers about home improvements and repairs, renovations, and the condition of major appliances. Don’t keep information from your buyer. Foreclosures are sold “as is” which means the bank is not making any guarantees about the property’s condition. Furthermore, lenders are exempt from disclosure laws so they aren’t required to tell buyers about any major problems with the home.

4. Smart sellers do what they can to expedite the closing. You should make the selling process as easy as possible for your buyer. Buying a foreclosure is a complicated process that can take weeks or months to complete. Most buyers simply cannot wait that long and deal with the extra paperwork involved.

5. Smart sellers know they may need to adjust the price.   If your home stays on the market while others sell, you may need to adjust your asking price or offer something extra, like a home warranty, to the buyer. The real estate market is constantly fluctuating, and it is possible for your home’s market value to decrease while it is on the market.

Don’t let competing foreclosures keep you from selling your home. Let me help you sell your Santa Cruz home for top dollar. Call me today at 831.662.6522 or email me at lauren@laurenspencer.com

LINKS:

1. Paint 

2. Appliances 

3. Home warranty

Falling behind on your mortgage payments puts you in a frustrating situation. No one wants to face the possibility of losing their home to foreclosure and damaging their credit. Yet, you may think you have no other alternatives. Fortunately, there are some steps you can take to save your Santa Cruz home from foreclosure.

• Buy a home you know you can afford. If you struggle each month to make your mortgage payment, you are more likely to find yourself facing a foreclosure. Do yourself a favor and determine how much money you can afford to spend on a Santa Cruz home before you start looking for one.

• Whenever possible, plan ahead. A solid financial plan can be a lifesaver during difficult financial times. If you know you’re going to lose your job, set aside money to cover your mortgage payment while you’re looking for new work.

• Talk to your bank. Your bank doesn’t want to deal with a foreclosure any more than you do. Explain your financial situation and ask them for an extended grace period or temporary delay in payments. This can give you a chance to get your finances back in order.

• Pay your mortgage first. If you don’t pay your credit card, you will be slapped with late fees and possible account closure. Skipping several mortgage payments can cause you to lose your home. When you pay your mortgage on time each month, you also have more leverage to negotiate with your bank.

• Refinance your home. Refinancing your home at a lower interest rate can significantly lower your monthly payment. If you’re struggling to pay your payment because your adjustable rate mortgage went up, try switching to a safer fixed rate mortgage.

• Sell your home. It is difficult to sell your home and move, but it is certainly a better alternative than foreclosure. Once your home is in foreclosure you have to move anyway. Selling your home helps you avoid damaging your credit in the process.

Don’t wait until it’s too late to stop foreclosure. I can help you sell your Santa Cruz home. Call me today at 831.662.6522 or email me at lauren@laurenspencer.com

LINKS:

1. Financial plan

2. Grace period 

3. Refinance your home

Whether you are seriously looking for a new home or just curious about what’s for sale, an open house can be a fun way to spend a weekend afternoon. Before you head out for an afternoon of home looking, know the dos and don’ts of an open house for Santa Cruz real estate.

• DO talk to the real estate agent. The Santa Cruz real estate agent is there to answer any questions you have about the home and neighborhood. Ask about the neighborhood amenities, school zones, shopping and theatres.

• DO follow reasonable requests. If the agent or homeowner asks you to stay out of a particular room, do what they ask. Pay attention to the open house time frame - arrive after the event starts and leave before the event is over. You are a guest in the home.

• DO walk around the home. The whole point of an open house is to give you a chance to see inside available homes. You do not need permission to walk into bedrooms or through the garage. As you walk through the home, make notes about what you like and don’t like.

• DON’T look in medicine cabinets or drawers. It is simply impolite to look through the homeowner’s personal belongings. You have no reason to look at anything other the room layouts and closet sizes. Put yourself in the owner’s shoes—would you want people rummaging through your sock drawer?

• DON’T try to negotiate at the open house. This is not the time to make offers. If you are seriously interested in the home, call your Santa Cruz real estate agent after the open house is over and let her negotiate for you.

• DON’T take anything from the home. The homeowner is taking a great risk in letting strangers walk through their home. Respect their home and property. Stealing is never appropriate behavior.

If you’re looking for Santa Cruz real estate, open houses are a great way to explore what is available. Let me help you find open houses that meet your needs and price range. Call me today at 831.662.6522 or email me at lauren@laurenspencer.com

LINKS:

1. Find a movie theatre 

2. Closet organizers

3. Garage organizers

Whether you’re looking for an investment property or a new home for your family, foreclosures are a popular way to find property at a good price. Finding and purchasing foreclosures can be a complicated process. You don’t want to go through this alone. A Santa Cruz real estate agent can be a great asset to you during this time. Just keep in mind these tips for working with a real estate agent to find foreclosures.

• Be honest. Your real estate agent is a professional, and they should be treated as such. Explain to them during your first meeting that you are looking for foreclosures. Don’t lie about your financial situation. They need to know exactly what you’re looking for and exactly what you can afford. Otherwise, you’re wasting your time and theirs.

• Know what you want. Telling your Santa Cruz real estate agent that you want to buy a foreclosure doesn’t give them enough information to help you. You need to give them specific information about the type of property you want to buy and what features you want inside. Prepare this list before you meet with your agent and listen to any suggestions they have.

• Be flexible and responsible. Your real estate agent is there to help you, but they also have other clients and responsibilities. Rest assured that they want you to be happy, but they will not be able to devote all their time to you alone. Be flexible when you make appointments, be on time to all meetings, and expect the same treatment from your agent.

Want to get a good deal on a foreclosure?  I can help. Call me today at 831.662.6522 or email me at lauren@laurenspencer.com

LINKS:

1. Financial 

2. Foreclosure 

3. Time management strategies

If you pay attention to real estate trends, you’ve probably heard of foreclosures. A foreclosure happens when a homeowner neglects to pay their mortgage. The bank then sells the property, usually below market value. This means you can get a great deal on a new home or investment property. Finding foreclosures isn’t difficult. In fact, with a little time and know-how, you can find Santa Cruz homes that are in foreclosure.

• Hire a real estate agent. An experienced real estate agent is probably the easiest way to find a Santa Cruz home in foreclosure. Not only does a real estate agent have access to more foreclosures than you can find on your own, they can also negotiate for you and help you through the purchase process.

• Ask your network. Chances are your colleagues, friends and family members know someone who is facing foreclosure. Tell them that you are looking for foreclosures and ask them to let you know of anything they find. You might be surprised to discover how many properties you can find this way.

• Get online. You can search for foreclosures from the comfort of your own home. Most major banks maintain websites that list their foreclosures. Visit their websites to find what they have available. You can also use an internet foreclosure company. These companies give you access to their foreclosure database and charge a fee for their services.

• Drive around. If you have the time and gas money, you can also drive around town looking for foreclosures. Look for foreclosure riders on top of real estate signs and homes that appear to be abandoned. Overgrown yards and empty windows are usually signs that a home is unoccupied.

• Go to an auction. If you have cash available, you can go to an auction. Auction homes usually sell for less than market value. Some auction companies will let you see their homes before you bid on them. This way you can preview the home and decide if it meets your needs.

A foreclosure is one way to get a great deal on your next Santa Cruz home. Let me help you get a great deal on your next Santa Cruz home, even if you’re not looking for a foreclosure. Call me at 831.662.6522 or email me at lauren@laurenspencer.com

LINKS:

1. Foreclosure 

2. Bank foreclosure website 

3. Auction etiquette

A good real estate agent is an invaluable help when you’re looking for Santa Cruz real estate to purchase. They know the areas where they work and can help you find real estate that fits your needs. You probably expect them to tell you everything you need and want to know about each property and neighborhood.  However, there is some information that they cannot or won’t share with you.

1. Neighborhood demographics. Fair housing laws prevent anyone from discriminating against people based on any number of categories. The idea was that everyone should have equal access to whatever neighborhood they want to live in. Sharing neighborhood demographics like income levels, race, and number of children is considered a violation of these laws.

2. School recommendations. If you’re like many people, you want to buy Santa Cruz real estate in a specific neighborhood so your children can go to a quality school. There’s a good chance your agent won’t give you any information about the local schools. Schools often reflect the values and demographics of their neighborhoods, and your agent may view this as part of the fair housing laws. You’ll have to do your own research to find out which schools perform best.

3. Crime statistics. Although there is no law keeping your agent from sharing with you the crime statistics of a neighborhood, most agents choose to not answer this question. For some people, this is considered steering a buyer toward or away from a particular neighborhood and can be seen as discrimination. However, you can contact local law enforcement for this information.

4. Whether or not you can afford the home. Your agent’s job is to help you find a home and assist you through the closing process. They are not financial experts. Don’t expect them to help you determine how much money you should spend or whether or not you can make the monthly payments on a home. They also cannot tell you how much equity you can build in your home.

A good real estate agent can make all the difference in helping you buy Santa Cruz real estate at the best price and terms.  Let me help you find your perfect property and negotiate a great deal for you.  Call me today at 831.662.6522 or email me at lauren@laurenspencer.com

LINKS:

1. Fair housing laws

2. Find local school information

3. Find local crime statistics

Choosing a Santa Cruz condo isn’t much different from choosing a single family home. You want something that fits in both your lifestyle and your budget. Finding the right condo takes some time and careful consideration. Here are a few questions to ask before you buy a condo.

1. Is it in a good location? You want a Santa Cruz condo that fits with your lifestyle. Find out how far it is from work, your children’s school, hospitals, shopping, and entertainment facilities. It just doesn’t make sense to buy something far away from where you work and play.

2. Do I like the floor and the view? Think about how the floor you choose will fit into your life. You may love the view from a second floor unit, but do you really want to carry groceries up the stairs each week? A first floor Santa Cruz condo may be convenient, but are you willing to deal with the street noise? Likewise, find out what is planned for nearby lots. Your view of the woods can easily turn into a view of a shopping mall parking lot.

3. What kind of amenities will I receive? Find out exactly what you get with your unit, like the number of parking spaces. You also want to know the location and conditions of common areas. If the swimming pool is only open during hours when you’re at work, you probably want to find something more convenient.

4. Will I get along with the neighbors? Find out if the units above, below, and next to yours are occupied by the owners or rented out. This makes a big difference in what you can expect when you live there. For example, if the unit above you is rented out to weekly vacationers, you may have to deal with noise in the middle of the night.

If you think the condo lifestyle is for you, I can help. Let me help you find a Santa Cruz condo. Call me today at 831.662.6522 or email me at lauren@laurenspencer.com

 
LINKS:

1. Find local entertainment

2. Make your home quieter

3. Swimming pool safety

No one wants to pay more than they have to for Santa Cruz real estate. After all, investment potential is one of the greatest benefits of home ownership. You want your home to go up in value while you own it. The less you pay for your home, the more you stand to earn from it. Here are a few tips for getting the best possible deal on your home.

1. Buy at the right time. You find better Santa Cruz real estate prices during certain times of the year and market conditions. For example, in a slow real estate market, sellers are usually more willing to negotiate to sell their home. Likewise, pay attention to the climate of a region. If you want to buy a home in the south, look during the middle of the summer when the hot, humid weather keeps buyers away. The same is true of New England winters.

2. Hire a Santa Cruz real estate agent.  A real estate agent is usually the simplest way to find a great deal. Agents have access to thousands of homes for sale. They know the home values of the area where they work.  Real estate agents are also trained to negotiate with sellers. All this goes a long way toward finding you the best possible real estate deal.

3. Have your credit in order for best loan rates. The better your credit score, the better your loan terms will be. This translates into lower, more affordable payments. If your bank pre-approves your loan, you have even more bargaining power with the seller and may get a better price or sale terms.

4. Look at more than just the price. Just because a home has an attractive sale price doesn’t automatically make it a good deal. Major repairs can easily add up and cost you more in the long run. A slightly higher priced home in pristine condition is often a better value than one in need of some work.

Now is a good time to get the Santa Cruz real estate of your dreams at a great price. Let me help you find your next home. Call me at 831.662.6522 or email me at lauren@laurenspencer.com

LINKS:

1. Current weather conditions

2. Why hire a real estate agent

3. Raise your credit score

When you sell your Santa Cruz home, you want it look as good as possible. To do this, your real estate agent will help you stage your home or, if needed, help you find a professional to stage your home. This means de-cluttering your home, re-arranging furniture, and de-personalizing each room.

A staged home is more appealing to buyers and helps to highlight your home’s positive features. However, staging is not meant to cover major flaws in your home. Some things just have to be repaired.

1. Roof problems. It doesn’t matter how pretty your Santa Cruz home is, your buyer is going to expect you to fix roof problems or adjust your price to cover them. Your roof is one of the most important parts of your home.

2. Cracked tile. Of course, you can use throw rugs to cover cracks in your tile, but chances are your buyers are going to look under them. Then they may think you are trying to hide a serious problem like a shifting foundation. Save yourself the headache and have your floors fixed.

3. Broken windows. You have to expect your buyers to walk around your home checking out the views from the windows. They’re going to notice any cracks. If you have the budget, consider upgrading your windows and making your home more marketable. At the very least, you should have the glass replaced.

4. Torn screens. If you have torn screens, your buyers may think you don’t take care of your property. Yet, screens are fairly easy to fix on your own. With the right supplies from your local hardware store, you can have new, sleek screens in less than a day.

As your agent, I will make sure your Santa Cruz home is ready to sell fast. Call me today at 831.662.6522 or email me at lauren@laurenspencer.com

 LINKS:

1. Common roof problems

2. New windows

3. How to repair a screen

If you’re like many buyers, you probably think that a foreclosure is the best real estate value you’ll find. While it’s true that Santa Cruz real estate in foreclosure is often priced lower than similar properties for sale, foreclosures aren’t right for everyone. Before you decide to buy a foreclosed property, do some research and make sure it really is your best deal.

• Price. Santa Cruz real estate in foreclosure is often priced lower than other properties on the market. This is because the bank is only interested in getting back the money they loaned the seller. However, if the seller has more than one mortgage because they took out a home equity loan, the home can be priced even higher than the current market value. Don’t assume that a foreclosure is automatically a better deal.

• Inspections. Foreclosures are sold as-is. The bank will not make any repairs to the property. If it has been well maintained by the seller, this makes the home an excellent value. Unfortunately, sometimes sellers damage homes before they move out or don’t take care of their homes while they live there. In that case, you may have to spend considerable time and money making needed repairs.

• Negotiations. When the bank is eager to sell the property, they are sometimes willing to negotiate terms like down payment and closing costs. However, since the bank’s only goal is to recoup their costs, you won’t have the same bargaining power with them that you would with a traditional seller.

• Closing Time. Perhaps the greatest disadvantage of a foreclosure is the length of time it takes to close. The bank will usually require additional paperwork and qualifications that can delay closing. If the seller had more than one mortgage, you will have to wait until the bank decides how much each lender receives from the sale.

Right now is a great time to find a deal on Santa Cruz real estate. Let me help you find one. Call me today at 831.662.6522 or email me at lauren@laurenspencer.com

LINKS:

1. Home equity

2. Home inspections 

3. Common closing costs