Santa Cruz First Time Home Buyers Compete With All Cash Offers

SANTA CRUZ FIRST TIME HOME BUYERS COMPETE WITH ALL CASH OFFERS

The fact that Santa Cruz First Time Home Buyers are competing with all cash offers is not news to me. There was a recent article in the Santa Cruz Sentinel about an individual that is trying to buy their first home in Watsonville but is not having much luck due to the all cash investors that are beating them out on the properties.

I have dealt with this same scenario myself with helping first time home buyers in Santa Cruz. When you are a Santa Cruz first time home buyer, and buying in a home under $500k, chances are high that you will be competing with all cash investors. About 29% of all Santa Cruz county home sales last year were all cash transactions.

You may have to write several offers before you get one accepted - don't get discouraged! Buying a home is a process and with an experienced Realtor at your side, you will have success! As a Santa Cruz first time home buyer you will likely be dealing with short sales and foreclosures, read my article here about Tips for Buying a bank owned home in Santa Cruz

As a First time home buyer in Santa Cruz, you should also know that there are different programs in the County and City of Santa Cruz, City of Watsonville and City of Scotts Valley that can help you. Visit here to read my article about Santa Cruz County First Time Buyer Programs

Besides conventional loans there are also FHA loans and USDA Loans. With an FHA loan you can buy a home or Santa Cruz FHA approved condo with only 3.5% down. With a Santa Cruz USDA Loan - 100% financing you can buy a home with almost nothing down. There are restrictions about what areas of Santa Cruz County you can use a USDA loan in, contact me for details.

If you are looking to buy a home in Santa Cruz, and want to know your options, contact me at (831) 419-9345, I am happy to help!