THE LIFESTYLE MAGAZINE OF THE PAJARO VALLEY
A supplement to The Pajaronian
OCTOBER 16, 2020
SUPPLY VS. DEMAND Home sales continue to boom. But will inventory keep up? P4
MIXING BOWL P6 | HOME OF THE WEEK P8 | PHOTO GALLERY P10
OCTOBER 16 - 22, 2020 | PAJARO VALLEY MAGAZINE
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Raeid Farhat Real Estate Inc
Celebrating 20 years!
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21 Brennan St, Suite 18, Watsonville, CA 95076 Phone: 831.761.7301
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The tastiest week of the year. October 21 - 28
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Jeanie Johnson
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Erik Chalhoub Contributing Writers
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Cover story
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Mixing Bowl
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Home of the week
Published by WatsNews, LLC, Watsonville, CA. Entire contents © 2020. All rights reserved. Reproduction in any form prohibited without publisher’s written permission.
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PAJARO VALLEY MAGAZINE | OCTOBER 16 - 22,2020
Erik Chalhoub Johanna Miller Tarmo Hannula Kate Russell Sarah Ringler
Three-Course Dinners
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HOUSING IMBALANCE LOW INTEREST RATES DRIVE CONTINUED GROWTH IN HOUSING MARKET BY ERIK CHALHOUB AND JOHANNA MILLER
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BUSY MARKET Demand is high and inventory low in Santa Cruz County.
Tarmo Hannula
OCTOBER 16 - 22,2020 | PAJARO VALLEY MAGAZINE
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he booming real estate market during the pandemic is creating an issue as the fall season gets underway: low inventory. Lawrence Yun, chief economist for the National Association of Realtors, said scarce inventory has been problematic for the past few years, but has worsened in the past month due to the dramatic surge in lumber prices and the dearth of lumber resulting from California wildfires. “Over recent months, we have seen lumber prices surge dramatically,” Yun said. “This has already led to an increase in the cost of multifamily housing and an even higher increase for single-family homes.” Yun said the need for housing will grow even further, especially in areas that are attractive to those who can work from home. As highlighted in NAR’s August study, the 2020 Work From Home Counties report, remote work opportunities are likely to become a growing part of the nation’s workforce culture. “Housing demand is robust but supply is not, and this imbalance will inevitably harm affordability and hinder ownership opportunities,” he said. “To assure broad gains in homeownership, more new homes need to be constructed.” According to the Santa Cruz County Association of Realtors (SCCAR), 196 single family residences throughout the county were sold in September. Since the pandemic broke out, home sales have steadily increased, with May topping off at 223 single family residences. In Watsonville, 26 single-family homes sold, compared to 19 in August, according to SCCAR data. Inventory dropped from 34 to 32.
According to Intero Real Estate Services’ Market Snapshot for September, which gathers data from MLSListings, the number of active listings in Santa Cruz County was down 55 percent in September, from one year earlier in 2019. The lowest mortgage rates in five decades have enticed buyers. According to Freddie Mac’s Primary Mortgage Market Survey released Sept. 10, 30-year fixed-rate mortgages averaged 2.86 percent, the lowest rate in the survey’s history which dates back to 1971. “Mortgage rates have hit another record low due to a late summer
slowdown in the economic recovery,” said Sam Khater, Freddie Mac’s chief economist. “These low rates have ignited robust purchase demand activity, which is up 25 percent from a year ago and has been growing at double digit rates for four consecutive months. However, heading into the fall it will be difficult to sustain the growth momentum in purchases because the lack of supply is already exhibiting a constraint on sales activity.” Renee Mello, realtor at Keller Williams and member of the California Association of Realtors, said that after
the initial drop off at the start of the pandemic, sales have remained strong. Houses are either going very quickly, or stay on the market due to high prices. “People are anxious for homes, but they still won’t overpay,” Mello said. “At the same time… as people choose to move out of cities, that creates more demand in the valley and countryside, and drives up prices there too.” Mello had one warning to people with mortgages during the pandemic: pay attention to the fine print on forbearance agreements. A forbearance agreement between a
lender and a borrower delays a foreclosure. As people have been out of work due to the pandemic, many have taken advantage of such agreements. However, not all forbearance agreements are the same. Mello said that some people do not understand that having your mortgage “held back” does not mean you don’t eventually have to pay the whole thing. “People will not have been making payments, and then, depending on how it’s written, they could end up paying the rest in one fell swoop,” Mello said. “Be cautious, and look closely at what you signed up for.”
PAJARO VALLEY MAGAZINE | OCTOBER 16 - 22,2020
Tarmo Hannula
FROM ABOVE Santa Cruz County realtors are seeing a high demand for housing during the Covid-19 pandemic.
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Tarmo Hannula
OCTOBER 16 - 22,2020 | PAJARO VALLEY MAGAZINE
THE MIXING BOWL
COMPLEX FLAVOR Biryani is not a simple dish but it will fill your kitchen with the provocative scents of onions, herbs and spices.
A most fragrant kitchen By SARAH RINGLER
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ne-dish meat and rice dishes are eaten around the world. Biryani is a complicated version full of onions, herbs and spices.
There are many claims to its origin but according to Wikipedia, it’s a Persian and Indian dish that goes back to medieval times. The name comes from the Persian word that means “fried before cooking.” It has always been my favorite dish at Indian restaurants and
I was curious how it was made. It’s a lengthy process and one of those recipes that conjure up past times where women would cook all day over a hot stove. This recipe actually starts the day before as the meat needs to be marinated overnight. The smells that
emanate from preparing this dish are an experience in themselves. Lamb is my favorite meat for biryani although chicken, shrimp, goat, fish and beef can also be used. There are many different versions and you will probably create your own if you, like me, ➝ 7
MIXING BOWL
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freely substitute ingredients as needed. This recipe was adapted from “Tejal Rao’s Indian Essentials” from the March 11, New York Times. Fried onions—this recipe calls for four whole onions—are an important ingredient alongside the meat and rice. The complex flavor comes from large amounts of herbs and spices. At Indian restaurants I have gone to, the dish often has raisins and pine nuts added to the rice mixture and is a dark red color that comes from the Kashmiri chili powder. I had to substitute that ingredient.
SINDHI-STYLE BIRYANI Lamb or chicken marinade: 4 green serrano chiles – stems removed 8 garlic cloves 1 4-inch piece of ginger, peeled 2 medium yellow onions, peeled and quartered 2 Roma tomatoes, quartered 1 cup full fat yogurt 1 cup fresh mint leaves 1 cup fresh cilantro leaves 1 tablespoon ground coriander 1 tablespoon ground cumin 1 teaspoon Kashmiri or other chili powder 1/2 teaspoon ground turmeric 2 teaspoon Kosher salt 2 1/2 to 3 pounds boneless lamb shoulder or chops cut into chunks 1 large cinnamon stick 12 whole black peppercorns 6 cloves 6 green cardamom pods 1 tablespoon garam masala, or mixture of ground cloves, cinnamon and cardamom
Fried onions: 1 cup cooking oil 2 yellow onions, thinly sliced 1/2 teaspoon kosher salt
Rice: 3 cups basmati rice Kosher salt
Assembly: 6 tablespoons whole milk
Are you Overwhelmed right now? We are here for all your Real Estate needs We hope you are all doing well during the most confusing and scary times of our lives. Please be safe and sane and when you feel it’s overwhelming, practice patience and kindness and find some peace in it all. Change is difficult. - The house rental playing field has changed with new laws regarding tenants’ rights that are not landlord-friendly and, to date, state and federal officials have offered little relief for rental property owners. - The current fire is impacting our challenging housing market. Supply will be at a critical level with great demand. - The current COVID-19 crisis is changing our industry constantly, as we learn more about it. So, if you’re overwhelmed it’s natural in this environment. Some of you might be wondering about the current housing sales market. We can tell you this: For those of our clients who have decided to sell for one reason or another, the market remains strong. After listing the homes for our clients we have had healthy responses from buyers that have resulted in multiple offers and quick sales, much to the delight of the property owners. If you have any questions regarding current rent regulations or to consider selling your property, we would be happy to assist you. Give me a call today regarding buying or selling your property
Give me a call today regarding property management and current rent regulations
Ed Gagne
Kathy Oliver
REALTOR® 831.254.1432 egagne@baileyproperties.com Cal DRE #01450406
Broker Associate/REALTOR® 831.206.2249 Kathy@OliverPM.com Cal DRE #01116175 Owner of Oliver Property Management
Circle of Champions - Watsonville Office
PAJARO VALLEY MAGAZINE | OCTOBER 16 - 22,2020
Cooking the meat:
1/2 teaspoon saffron threads 2 cups mixed and chopped fresh cilantro and mint leaves 6 tablespoon unsalted butter, sliced Prepare the marinade for the lamb. Put the serrano chilis, garlic and ginger in a food processor and finely chop. Add onions and tomatoes, and process until smooth. Add mint and cilantro and pulse to chop. Put the mixture into a bowl with the yogurt, coriander, cumin, chili powder, turmeric and salt. Add the chunks of lamb and mix well. Cover and marinate overnight in the refrigerator. Prepare the crisply fried onions by first thinly slicing the onions. Heat the oil in a heavy saucepan over medium heat. Add the onions, sprinkle with salt, and sauté until brown for about 25 to 30 minutes. Stir occasionally. Using a slotted spoon, remove the onions and place to drain on paper towels. Pull the onions apart to separate them. To the same pan of hot oil, over medium heat, add the cinnamon stick, peppercorns, cloves and cardamom. Stir about 1 minute until fragrant. Stir in the meat and 1 cup of water. Bring to a simmer and cook until meat is done and the sauce is very thick in about 2 1/2 hours. Stir in the garam masala or equivalent spices, and add more chili powder, if necessary. Taste, add salt and adjust flavors. Heat oven to 350 degrees. Prepare the rice by bringing a large pot of salted water to a boil. When the water boils, stir in the rice. Cook for 3 minutes only, then drain in a colander. Run some cold water over the rice, drain, and set aside. Prepare the saffron milk by warming the milk in a small saucepan over medium heat. As soon as the milk starts to steam, remove it from the stove and crumble in the saffron. Set aside. In a large, lidded pot, spread about 1/3 of the meat mixture in an even layer on the bottom. Sprinkle lightly with 1/3 of the cilantro and mint leaf mixture, and 1/3 third of the rice. Drizzle 2 tablespoons of the saffron milk and then 1/3 of the fried onions. Repeat for the next two layers. Top with the butter and cover with a layer of aluminum foil. Put the lid on the pot and bake for about an hour. Let rest for 10 minutes, then serve.
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HOME OF THE WEEK
Ready to help with all of your real estate advertising needs. Submitted photo
PRINT & DIGITAL
CARR AVENUE This Aromas home includes a sizable garden.
Tiffani Petrov OCTOBER 16 - 22,2020 | PAJARO VALLEY MAGAZINE
Account Executive 831.761.7314 | tpetrov@pajaronian.com
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TOPS In Their Field Are You TOPS in Your Field? Call Debra 831.761.7325
Overlooking the valley Aromas home features panoramic views with large garden
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his remodeled home is located just above the town of Aromas. Located at 492 Carr Ave., the 1,600-square-foot home includes three bedrooms and two bathrooms. The kitchen is equipped with cherry wood cabinets, stainless steel appliances, a breakfast bar and bamboo floors. The first-floor master suite includes an oversized bathroom with custom cabinetry,
double sinks, walk-in closet, private deck, and direct access to the outdoor hot tub that overlooks the valley below. Outside, there is an avocado tree, fruit trees, raised and fenced vegetable gardens, gardeners’ outbuilding and outdoor seating areas. The home, built in 1977, is listed at $849,000 by Monterey Bay Properties. For information, visit tinyurl.com/y32xv6ge.
HOMEOWNER’S SERVICE GUIDE Keep your home in top shape with the help of these local professionals.
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PAJARO VALLEY MAGAZINE | OCTOBER 16 - 22, 2020
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PHOTO GALLERY Tom Brezsny’s
REAL ESTATE OF MIND
Provoking thought since 1990
Have a recent photo you’d like to share? Send it to us for consideration by emailing it to echalhoub@weeklys.com or mailing it to 21 Brennan St., Suite 18, Watsonville, CA 95076. Please include a brief description of the photo as well as the name of the photographer.
Picking up the thread…talking about the wild ride real estate has been on since Covid arrived in early March. It feels like a lifetime ago, but it has really only been six months since shelterin-place became an everyday part of our lives. And while the progress of the pandemic already qualifies as a long strange trip, it’s wise to remind ourselves that it’s not over yet. Not by a long shot. So, with six months of post-Covid real estate under our belts, let’s recap how it has unfolded thus far: The market started 2020 with promising activity but it also felt like it was coming towards the end of its long cycle of appreciation. More agents were asking “How much higher can it possibly go?” When Covid hit, there was a mad rush to figure out how real estate should/could adapt to the unprecedented new health crisis. Every day brought new rules and new interpretations for what was and what wasn’t permitted in terms of showings and sale procedures. Realtors were deemed “essential workers,” a designation that seemed disingenuous given the heroic work health care workers, emergency personnel and even grocery clerks, postal employees and farm laborers were doing to sustain the community.
belladonna vine thrives in Santa Cruz.
Tarmo Hannula
After the initial shock of shelter-in-place subsided, agents began to notice that online listings were getting increasingly more views. People hunkering down at home had extra time on their hands and they were doing more virtual drive-bys in search of their dream homes. Not being able to see homes in person also made the thought of them more desirable. Meanwhile, economists were making educated guesses about various recovery scenarios that might follow the Covidinduced recession. Early talk centered around V-shaped and U-shaped recoveries while others promoted the W and L models. What has actually unfolded over the last six months is a K-shaped recovery, one that has different sectors of the economy moving in opposite directions while the gap between them grows increasingly wider. We’ll continue our recap of the post-Covid real estate market next week.
Tom Brezsny
Realtor® DRE#01063297
831-818-1431 getreal@serenogroup.com PA I D A D V E R T O R I A L
FINDING A PERCH
A chestnut-backed chickadee pauses on a limb in Santa Cruz.
CART RIDE Cash, a
French Bulldog, enjoys shopping at Costco.
Ed Show
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BLAST OF YELLOW A
Meanwhile, the digital future was being accelerated by all the new distancing protocols and health concerns. Zoom meetings became the “thing”. Agents began experimenting with virtual open houses, 3D walk-throughs, enhanced video tours and all the other technology they could get their digital hands on.
Tarmo Hannula
OCTOBER 16 - 22,2020 | PAJARO VALLEY MAGAZINE
By early April, big real estate companies were laying off employees and cutting back on services. Offices were closed and open houses were off limits. Showing protocols were painstaking and confusing. The assumption was: it might be six months or longer before normal sales levels return.
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PAJARO VALLEY MAGAZINE | OCTOBER 16 - 22, 2020
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