Making a Difference One Sale at a Time

About 6 months ago, Angel and I made a very public commitment to donate a portion of our income from every sale we completed. Since then, $1,250 has been given to Delaveaga Elementary PTC,  $1,000 to Santa Cruz Gardens Home and School Club, $750 to Branciforte Middle School Associated Student Body, and $500 to Westlake Elementary PTC.

We are firmly committed to supporting local school systems. We voted YES! on Measure O and P. We never miss the opportunity to help with fundraising.  We understand that it takes a village, and that every little bit helps.

We are lucky to have had the opportunity to work with very close friends of ours on a sale and purchase. This family designated the Santa Cruz Gardens Home and School Club as the recipient of the donated funds. Here is where the story gets really good.  Rather than just forwarding the donation on to the Home and School Club, this family advocated tirelessly to see that the funds would be put to good use.  The $1000 donation on its own wouldn't fund an entire program, but, with the Home and School Club matching the donation, Santa Cruz Gardens will be able to kickstart a new Science curriculum.


Science is Elementary will be made available for Kindergarten and 1st graders.  The program relies on a trained volunteer, utilizes small group sizes, and hopes to spark a lifelong interest in science.

Bravo to our friends, to the Home and School Club, and to all of the parents, students, and teachers at Santa Cruz Gardens.

A Tale of Elderly Abuse and Fraud

Working in a line of business where it's a necessity to have your cell phone number plastered all over signs, newspapers, and the internet can lead to some pretty interesting phone calls. 

Earlier this month, I received a phone call from a gentleman located in Idaho. He identified himself as a 2nd cousin of an elderly lady who lived in Santa Cruz County. This gentleman, who I'll refer to as Mr. Smith, represented that this lady, who I'll refer to as Mrs. Jones, was like an "Aunt" to him.

Mr. Smith began telling me that he was going to help Mrs. Jones sell her property, valued upwards of $1.1 million dollars, so she could downsize into a smaller home and have some cash on hand to help with medical expenses.

My impression of Mr. Smith was not high after listening to him for a couple minutes. I think Mr. Smith thought of himself as a smooth talker; but what ended up coming out was a convoluted idea of how he thought I should help Mrs. Jones sell her home but never actually meet with her. In the end, of course, Mr. Jones thought he was entitled to 7-10% of the proceeds that could be wired to him directly for his "role" in facilitating the sale.

Nothing felt good about the situation Mr. Smith was describing. I tried explaining to him how our marketing works, the care that we have for our clients and the importance of placing his Aunt's property on the local area MLS.  Mr. Smith was insistent we procure and represent the buyer and sell the property off market for $1.1 million even though "it is worth much more than that." I couldn't explain to Mr. Smith enough how that was a serious disservice to Mrs. Jones.

By now, my internal alarm bells are ringing. Mr. Smith hasn't given me an address and gently evades the topic when I repeatedly ask, but eventually he gives me his Aunt's name.  He ends the phone call with lots of encouragement, saying he's confident I will get the job done because he's chosen me after all.   He plans to email me pictures of the estate so I can get promptly to work and find a buyer.

Angel and I had lengthy conversations about the absurdity of what Mr. Smith was trying to do.

Sell a property without ever actually meeting the seller? Not typical, but OK we've done it before with out-of-state clients.

Sell a property without ever having ANY contact with the seller and wire funds to a third party? I don't think so.

But the ultimate question: What if this is actually a real person and someone is trying to take advantage of her?  Surely, we must do something to alert this Mrs. Jones. The whole situation didn't sit right with me.

Mr. Smith was true to his word and did send me photos of what looked like a lovely gated, estate property with a pool, pool house, and wonderful views. Yes, I'm sure it was worth more than $1.1 million.

I decided to research Mrs. Jones and, sure enough, was able to locate a property that matched Mr. Smith's description.  Angel and I decided the right thing to do was to drive out to this estate and try to make contact with the owner to warn her of what Mr. Smith was trying to do.

Angel and I went out on a Friday morning, pulled up to the home and rang the gate multiple times. After about 10 minutes of no answer, I didn't feel right just leaving so I ventured over to the neighbor's house and asked if they knew Mrs. Jones. The neighbors, of course, were extremely skeptical of me when I explained why I was trying to reach Mrs. Jones.  I was asked to present identification and credentials.  Ultimately, though, I think the neighbors could see that I had nothing but good intentions and called Mrs. Jones.

It turns out Mr. Smith was actually related to Mrs. Jones and had recently visited from Idaho to help care for Mrs. Jones who was having health issues. But everything else Mr. Smith had represented was a lie. He was trying to take advantage of his own relative and commit what amounts to elderly abuse and fraud.

Mrs. Jones was, as to be expected, shocked and hurt by my recount of events. Nobody should ever hear that their own family is trying to steal from them.  The neighbors were appreciative of our efforts and asked if most other Real Estate Agents would have done the same thing. Angel and I explained that we can't speak for the rest of the Real Estate community, but for us, because of the high standard in which we operate our business and the genuine care we have for our clients, it wasn't an option to walk away and hope that nothing bad happened to Mrs. Jones.  We needed to make sure that nothing happened to Mrs. Jones.

It was a great way to start our 2016 out in a positive direction.


Aimee Thayer-Garcia is a Real Estate Broker Associate at Bailey Properties. She is Top-Producing Agent and practices Real Estate full time with her husband, Angel Garcia. Mom of 3.  831-435-9146. ATGarcia@BaileyProperties.com

$5000 Closing Cost Assistance to Community Heroes

The Santa Cruz County Association of Realtors is proud to offer a new additional closing cost grant to local Community Heroes.

The Closing Cost/ Community Heroes Program will give an additional $2500 to those who qualify for the Program's Closing Cost Grant.

In summary, applicants must meet income requirements, live or work in Santa Cruz County, and not have owned property for the past 3 years to apply for the $2500 Closing Cost Grant.  An additional $2500 is available through the Community Heroes Program for police, firefighters, EMTs and Military/Veterans.


The Santa Cruz County Association of Realtors Housing Foundation is a local, non-profit that has offered financial assistance to income-restricted, first-time homebuyers. Their goal is simple: "Bridging the Gap to Homeownership."

Through individual and corporate donations, grants from the State Level, and creative fundraising, the non-profit has helped over 200 families achieve their goal of homeownership with funds totaling almost half a million dollars.

Angel and I are well versed in the available First Time Homebuyer Programs offered throughout Santa Cruz County. We look forward to sharing our wealth of information.

Aimee Thayer-Garcia is a Real Estate Broker Associate at Bailey Properties. She is Top-Producing Agent and practices Real Estate full time with her husband, Angel Garcia. Mom of 3.  831-435-9146. ATGarcia@BaileyProperties.com

Santa Cruz's Disappearing Market: Where did the entry-level market go???

I'll make the argument that the entry-level market has disappeared. Gone are the days when young couples would buy their first condo, accumulate equity, and then move up into their first single family home.

According to the WSJ,  the "number of first-time home buyers [has fallen] to lowest level in three decades." The last time we saw first-time homebuyers represent a 32% share of the marketplace it was 1987.  Historically, this figure has averaged around 40%.

The biggest obstacles noted by would-be first time homebuyers are saving for a down payment and high student loan debt.  Santa Cruz's rapidly increasing rental rates have only compounded the issue; higher rents have made it more difficult to save.

Further aggravating the issue is the non-existent price difference between a condo and a home.

Yup, you heard me right. The gap in price between a condo and a home is almost non-existent.

Within Santa Cruz city boundaries the two lowest priced active homes are listed at $575,000 and $599,000. Both are two bedroom homes, under 1000 square feet in size. The lowest priced two bedroom condo is listed for $549,000. However, with the condo's $380 HOA fee, the monthly cost to own the condo is essentially the same as the single family home.

170 Everson Dr is a condo listed for $549,000. 

315 Button St has been on the market for 136 days. Listed for $599,000

Now, on one hand, I can see some readers jumping up and down for joy. This is good news.  Why buy a condo when you can have a house for the same price?!

On the other hand, the affordability factor (or lack of it) is alarming.

If you have the typical 20% down payment saved up ($120,000) and $0 debt, you would need a household income of about $100,000 to purchase a $599,000 property. The median household income for Santa Cruz is currently $62,755.




With property values rising so quickly, the entry-level market has essentially disappeared. Condos and townhomes alike have risen drastically in value. Their prices are competing with that of single family homes.

(On a side note, this is GREAT news for condo/townhome owners who bought when the units were still at entry-level market prices.)






Affordable Options are available

Santa Cruz City currently has Measure O in place, a voter-approved initiative to require developers to designate a certain number of new units as affordable housing units.  Recently, developer Bill Brooks had 2 units set aside in the new Delaveaga Park Home development on Sunny Ln in Prospect Heights.  There was a wait list of about 20 parties who were interested in purchasing an affordable housing unit. Likewise, the County has a similar initiative in place- Measure J.

2 Measure O homes sold for $393,451 while the other market rate homes sold for $735,000+

Angel and I are passionate about housing and have had great success working with buyers of all different incomes and budgets. Whether it's your first purchase or you're 10th, we hope you will contact us to see how we can find an affordable option that meets your lifestyle needs.

Aimee Thayer-Garcia is a Real Estate Broker Associate at Bailey Properties. She is Top-Producing Agent and practices Real Estate full time with her husband, Angel Garcia. Mom of 3.  831-435-9146. ATGarcia@BaileyProperties.com

"Anti-California" Stickers on For Sale Signs

Picture a place with coffee shops, breweries, restaurants and food carts.  Nearby ocean beaches offer the smell of salt air, sand between your toes, and crashing waves. Historical architecture lines the streets coupled with the latest in LEED buildings.  Liberal communities dotted with Gluten-Free, bicycle-friendly people and the endless offerings of State Parks, trails, and outdoor experiences.

I was NOT describing the Bay Area. I was describing Oregon.

As the median sales price in San Francisco has risen well above the million dollar mark and the median sales price in San Jose and surrounding Santa Cruz areas have topped $750,000, it's no wonder some Californian's are looking to the Pacific Northwest.

Seattle, after all, is home to Google, Amazon, HP, and Microsoft, AND the median sales price is only $350,000.

Major Price Difference: Portland vs. Bay Area

$350,000 in Santa Cruz will buy you a 2007 manufactured home in an age-restricted community (55+.) You don't even own the land.

On the other hand, $307,000 will buy you a 3 bedroom, 1.5 bathroom 2000+ square foot home with a partial basement on a 5,000 square foot lot.

800 Brommer St #2 sold for $340,000 in September

7219 SE Harold St, Portland, OR sold for $307,000 in October

So can you really blame Californian's for looking Northward to relocate? Climate is similar, the landscape is green and water isn't restricted. I don't think any people in Portland are leaving it mellow when yellow and flushing down when brown.


Oregon Backlash

I can only imagine that, with breaking hearts, those Californian's who are electing to make the move can at least ease their pain knowing they are headed to a land of similar culture, vibe, and lifestyle. Why wouldn't Portland welcome a mass exodus of hipsters, millennials and tech retirees with open arms?

Courtesy of Lori Fenwick

In recent weeks, stickers like this one have popped up on For Sale signs around Portland. The local real estate market is starting to experience bidding wars and properties selling for well above list price. Some local Realtors attribute the rising prices to historically low inventory levels and buyer frustration.  Does this scenario sound familiar?

As locals are being priced out of their own market, many are turning their frustration into blame.  Blame on Californians for their "mass exodus" and their single-handed responsibility for a pricing "bubble."





Change is inevitable. When you look around Santa Cruz now, it is not the same Santa Cruz it was 30 years ago.  Whether you agree or not with Portland locals and blame Californians for hiking up their local property values, what the heart of this story reminds me is that Real Estate is not just local, it's Global.

Aimee Thayer-Garcia is a Real Estate Broker Associate at Bailey Properties. She is Top-Producing Agent and practices Real Estate full time with her husband, Angel Garcia. Mom of 3.  831-435-9146. ATGarcia@BaileyProperties.com

WIN!!! $25,000 or a NEW CAR

It’s simple. It’s easy. There’s no catch.  

Purchase a ticket for $5 each or $25 for 6 tickets.

Top Prize is $25,000 or a 2015 Toyota Prius or Subaru Outback.

100% of the money from the tickets will go to local schools.  Any tickets you buy from us will go to benefit our kids school, Delaveaga Elementary.

Contact me to buy your tickets today. Hurry!  Ticket sales end October 18, 2015!!!

Drive for Schools is an annual Santa Cruz County schools fundraiser.  Thanks to the Santa Cruz Beach Boardwalk and the Capitola Auto Mall Dealership who have teamed up to sponsor the event and offer the top prizes of either $25,000 or a new 2015 Toyota Prius or 2015 Subaru Outback. There are ten additional $1,000 cash prizes and 100+ additional prizes donated by local businesses.

What would you do if you won?

Aimee Thayer-Garcia is a Real Estate Broker Associate at Bailey Properties. She is Top-Producing Agent and practices Real Estate full time with her husband, Angel Garcia. Mom of 3.  831-435-9146. ATGarcia@BaileyProperties.com

Multi Generational Households are on the Rise

The weekend birthday circuit. Need I say any more?

Once school starts, it’s only a matter of time before the invitations start coming home crumpled and wet at the bottom of their backpacks. 

Open House or Birthday Party???

There are a lot of tough choices for Angel and me when it comes to the weekend schedule. Who does the Open House and who takes the kids to the Birthday Party?  

Often we settle the matter with a good old-fashioned, reliable and very mature round of Ro-Sham-Bo.  (For the record, it’s always 2 out of 3 to win.)

As I’m enjoying the company of 3 other families at this last party, the conversation turns towards housing.  It’s a very common, and often heated, topic here in Santa Cruz.  Family A, B, & C all are 2-parent working households, with the average of 2.3 kids. All parents are gainfully employed.

The Families

Family A’s current situation is shared rental housing with a grandparent. Parents wouldn’t otherwise be able to afford to live in this house without grandma’s financial contribution. Likewise, grandma wouldn’t be able to afford any rental or housing situation on her own. Rents and housing prices have just skyrocketed!

Family B owns their home. They were able to buy a starter home back in 2009, pre-kids, at the bottom of the market, and with a generous 20% down payment gift from their parents.  Family B has outgrown their home and wants to up-size but can’t make the numbers work without a significant contribution from their extended family again.

Family C's income doesn't keep
up with their $3000/month
rent payment

Family C is in a rental. 3 bedrooms, 2 bathrooms, clean, safe neighborhood, nothing fancy.  Sometimes they struggle making the $3000 rent payment a month and have to ask for assistance from a set of parents to get them through the tougher months. 

The Question

I would be lying if I said these types of conversations or family circumstances were a first-time occurrence.  In fact, the housing affordability topic frequently comes up.  I hear about all kinds of living situations, family compounds, assistance, generous down payment gifts, properties being willed to grandkids.  I’ve heard it all. 

Through the course of these conversations, I usually offer some contribution to the discussion, pick a few brain’s, throw in a couple ideas, and then inevitably follow everyone else into the yard for cake and piñata.  There is no real concrete solution to offer.

What are people going to do to stay here in Santa Cruz?

The Numbers

755 14th Ave, Santa Cruz
Swan Lake Gardens
Measure J County Affordable Housing

If you look at the raw data, the median household income in Santa Cruz County is $67,000 (I’m rounding up.)  Based on that income, one might be able to qualify for a $300,000 loan.  That’s assuming great credit and no debt. Yet, the median value of owner-occupied housing is $557,500.  That’s a $250,000+ discrepancy.  Even if the family saved 25% of their income, it would take them 15+ years to save enough to bridge the gap between wages and housing values. 

Again, I come back to the same question. 

What are people going to do to stay here in Santa Cruz?

--and--

HOW are they going to do it?

So… How are they going to do it?

Upwards of 16% of the population are already living in multi-generational households.

One third of adult children expect to share a household at some point. Why? The 65+ population is expected to double.  Long term care costs continue to rise. Millennials are entering a shrinking workforce with increasing college debt. To name a few.

It's very common in other countries for grandparents to
live with their grown children and family.

Multi-Generational Households aren’t coming, they’ve already arrived.  

Listen at the next birthday party.  Ask about people’s current living set ups. Talk with me. I’ll tell you how homes with a "granny unit" are selling for a premium.  Duplexes are being snapped up before the first open house. Family compounds are IN! Buyers want to know where they can put in a guest unit or divide a large home into two separate living spaces. 

If you own a multi-unit property or family compound that you’ve outgrown, now is the time to consider selling. If you’re considering a multi-generational purchase, see me so we can come up with a serious strategy.  Housing costs are not going to go down. It’s time to talk about how to secure your future here in Santa Cruz. 

Aimee Thayer-Garcia is a Real Estate Broker Associate at Bailey Properties. She is Top-Producing Agent and practices Real Estate full time with her husband, Angel Garcia. Mom of 3.  831-435-9146. ATGarcia@BaileyProperties.com