Trivia: We all know tourism is important in Santa Cruz, but did you know that tourism really became a force here after the railroad was built through the Santa Cruz mountains in the late 1800s and began two round trips a day to Santa Cruz. In 1879 Harper’s Weekly featured Santa Cruz as a new resort town. Today, some 3 million visitors a year come here to play.
Real Estate: In the last 5 years, the gross value of real estate in the United States has gone up 62%; in the same period the outstanding debt of mortgages has gone up 79%! (Source: Federal Reserve).
Sales Corner: Last week’s Fed move (0.50% cut in the Fed Funds Rate); the corresponding drop in the Prime Rate and the concurrent increase in 15 and 30 year fixed rates make for great topics to discuss with your current and past clients and referral partners. Give them a call today! Remember, news is like a hot bagel: it has much less value if you wait.
Hot Tips: Buyers’ Bonus Mortgage Program
· Builder/seller can pay up to 100% of the principle and interest portion of the monthly payment for up to the first six months.
· Either a home resale or newly constructed 1-unit primary residence.
· Fixed and ARM products.
· Up to 100% CLTV, and affordable lending options for FTHB available.
· Full doc, SISA, NIV.
Please call us for details, and to price out your deals.
www.santacruzhomefinance.com
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