How do you know if it is the right time to invest in real estate. Are YOU ready? Is it a good market to buy? You have probably heard it many times “Now is the time to sell” or "It is a buyers market"
Truth is, it's up to you.
To help you along the way we have compiled some news about the latest housing market in Santa Cruz County as well as some financial advisement before you decide to sell or buy.
Home prices are rising
We are in a pandemic where the majority of people work from home, they start looking at alternatives. If I can work from home, is this where I want to live?
At the same time, more people are loosing their jobs and can't afford paying their rent or mortgage. It is an interesting time we are in but overall we have seen that the home prices are rising significantly.
The median home sale price has increased with 9.9% from December 2019 to December 2020. "Watsonville recorded the highest increase on a percentage basis. The median price for 45 sales there was $558,000 — up 29% from the year before. At the same time, mortgage interest rates have dropped to record lows, in part because of a Federal Reserve policy designed to stimulate the economy. The drop has enticed more buyers into a market in which they’ve found few homes for sale, prompting bidding wars." - The lookout
What else should you think about when buying/selling a home? Is this a good investment? Before you make an investment, think long-term. Springwater Wealth said it pretty good: "for you to be willing to part with your money today, you must have a reasonable expectation that you’ll be compensated at some point in the future for that loss of the use of your money."
Read more here about 5 Key Considerations Before You Invest
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