April 2008 Update

UPDATE:
Yesterday, the Bush Administration announced additional flexibility for the Federal Housing Administration to insure more mortgages. Specifically targeted to help borrowers already in trouble, the FHA may be able to insure up to 500,000 refinanced home loans through FHASecure. For more details, visit http://www.hud.gov/news/release.cfm?content=pr08-050.cfm

Seems everyone wants to know what's happening with home sales. REALTORs in our offices are reporting consistently higher buyer attendance at open homes. Multiple offers are common on well-priced homes. In contrast to a few months ago, when the "short sales" often took a while to sell, it seems a new trend is emerging: "bank owned" homes are often priced to sell quickly. Today's savvy buyers can tell when there's a good value, and they are taking advantage of the downturn in increasing numbers.

ARTICLES:
We are also beginning to see a change in tone in the press, including writers from Forbes and the San Francisco Chronicle. There are signs of improvement in even the worst housing markets, and home sales picked up in February for the first time since last July nationwide. Here in California, February sales rose 10% over January's sales rate.


EVENTS:
Saturday, April 12th 10 am - 2:30 pm
Santa Cruz County Housing Expo
Free to the public:
Twin Lakes church, Monschke Hall
2710 Cabrillo College Drive,
Aptos, CA
Santa Cruz Association of REALTORS (831) 464-2000 for details, or visit
www.scaor.org for list of workshops, speakers, and more, including how to "green" a home!

OPEN HOMES:
Sunday April 20th 1 - 4 pm
Century 21, Showcase REALTORS will be hosting open homes all across the county; contact MC for details at
mcd@mcdwyer.com or (831) 419-9759