A Funny thing happened on the way to the annual holiday slowdown this year in Santa Cruz County—It never came. In fact, the opposite appears to be occurring, as previously stagnant listings have seen a resurgence of activity and multiple offers proliferate on new listings particularly in desirable areas as they hit the market.
This appears to be partially a function of a recent drop in available inventory across the board, with many residential sellers choosing to wait until after the holidays before enduring the rigors of interested parties wanting to get viewings at inopportune times. And then there’s the pent-up demand of buyers who were apparently waiting to see which way the election went and are now deciding to move forward with their quest to get a place, in spite of the fact that interest rates haven’t improved appreciably since the results came in.
Whether real or not, buyer perceptions and markets in general are susceptible to mood swings, theories and belief patterns which often have no basis in fundamental economics, but rather are reinforced by the buzz on the street or the various social media platforms which influence them. And for whatever reason, many are associating the recent transition of power in Washington with a sense that lower inflation is on the way, although there are no reliable indicators that things are actually headed in that direction. And then there is the ongoing boom in development that continues to sweep the county and is starting to change the shape of our downtown areas and elsewhere.
For my part, it seems like every project I touch these days leads to another project, with some high-profile ones recently grabbing the headlines and putting my name in front of other parties seeking active representation for their upcoming real estate plans. This has snowballed over the past month in particular, with our office currently handling three homes, a commercial building, an apartment complex, several commercial leases, and four businesses under contract, as several of our other listings show levels of activity that usually presage an offer coming in.
It's validating and exhilarating to be able to handle this all at the same time without dropping the ball, thanks to a well-coordinated team who are busily helping to prepare, show and handle the details for the myriad of different types of listings crossing our desks in the midst of a post-election rush that isn’t showing any signs of slowing down as the holidays approach.
At times like these, along with the amazing individuals whom I count myself fortunate to have on our team, I am particularly thankful for the trust that each of these clients are putting in us to help them achieve their goals. And as the saying goes, if you want to get a job done, give it to a busy person.
So Happy Thanksgiving everyone…Now let’s get back to work!
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