Summer is always a busy month for property managers and DIYers. However, this year some things have been different. In the month of June I had 5 tenants give notice and it was because they had become First Time Home Buyers – Yeah for them. Finally, prices have come down enough in Santa Cruz County and interest rates are still at an all time low, and the $8,000 incentive for first time buyers helped. July I had 2 more current tenants become home owners and August I have 1. So that tells me the market has probably hit bottom. I am hearing from Realtor friends that some properties are getting multiple offers. These properties of course are the short sells and the foreclosures but it makes me happy to know that good tenants are becoming good qualified home owners who are establishing permanent roots in our community.
Kathleen Richards
Broker/Owner
