If you’ve been looking to get into the Santa Cruz real estate market in 2021, you’ve probably noticed that homes are in very short supply – and the few homes that do pop up on the market are gobbled up very quickly, often selling in just a few days, and typically at prices significantly over asking price. If you’re a first time home buyer, or maybe a move-up buyer, you’re probably looking at all this and wondering just what is going on – where is all this money coming from? The answer is that folks in Santa Cruz just need to look over their shoulders at the Silicon Valley. Silicon Valley buyers are snapping up real estate in Santa Cruz in droves – so much so that Realtor.com and the Wall Street Journal, in their first “emerging housing markets” report, have noted that Santa Cruz County is the #10 emerging housing market in the entire USA. What’s happening today is part of what is likely to be a long-term trend, rather than a short-term bubble likely to pop in the coming months or years. Only time will tell, of course – but for all the insight, watch this episode of It’s a Seb Show!
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