Tuesday, January 16, 2018

Now May Be The Best Time To Buy A Rental Property In Santa Cruz



Now May Be The Best Time To Buy A Rental Property In Santa Cruz 

BY 
Real Estate Agent with eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales B.R.E. 01191194
 
Santa Cruz sales to list price ratio
The rains are starting again. Yay!!! This is great news for California. It is not always great news for Santa Cruz home sellers
Many Silicon Valley rental property investors go to Santa Cruz when the sun is shining and the temps are in the 70's, see what a great place it is, discover how high the rents are and how relatively affordable the Santa Cruz housing prices are, and decide to buy a Santa Cruz rental property in the summer, along with the everyone else.
As you can see from the chart above there was significantly less competition for Santa Cruz homes last winter in the heavy rains than after the rains stopped. The chart shows sales to list price ratios by month.  In general, the more buyers there are the higher the price will be and the higher over list price a Santa Cruz home buyer will need to offer.
I have written about why a Silicon Valley property investor should buy a rental property in Santa Cruz ,  http://activerain.com/droplet/57l7 but just to summarize:
Santa Cruz has a high percentage of residents renting: 63%
Santa Cruz rents are high, $1200+ a bedroom
Santa Cruz Rental Vacancies are low 1.64% in 2015 and getting lower
Santa Cruz housing prices are significantly lower than prices in the Silicon Valley Average sales price in Santa Cruz is current;ly $950,000 and in Santa Clara County $1,400,000
So if you are a Silicon Valley property investor thinking of buying a Santa Cruz rental property, get out your umbrella, put on your boots, and drive over 17 looking for a Santa Cruz rental property to buy.
Marcy Moyer
eXp Realty of California
650-619-9285
Specializing in Probate, Trust, and Investment Properties



POSTED BY
Marcy Moyer eXp Realty of California  Specializing in Probate and Trust Sales, and Rental Investment Properties


TOPIC:
 Home Buying
LOCATION:
 
California Santa Cruz County Santa Cruz
GROUPS:
 
Posts to Localism
 
Dedicated Bloggers
 
Club Chaos
 
Market Reports
 
Condo Benefits
TAGS:
 
silicon valley investment properties
 
silicon valley investment real estate agent
 
silicon valley rental properties
santa cruz investment properties
 
santa cruz investment realtor
 
santa cruz property investor

2 comments:

Unknown said...

Thank you for sharing this information. It has helped me to know more about
what is a good credit score for a home loan

Ahmed Kumar said...


Are you seeking for financial assistance of any kind? We are a private
loan firm that provides all types of loan/funding for all those who
desire for financial aid. If interested please give us a feedback with
loan amount needed and purpose for loan as well as repayment
period/time frame you require the loan.

Contact us for a loan via email solutionlogicmoney@gmail.com
Name
Amount
Duration
Country
State
Sex
Mobile#

Best Regards
Mr Ahmed Ibrahim
+918860675979
solutionlogicmoney@gmail.com
LOGIC MONEY FINANCIAL SOLUTION COMPANY.