How The Stimulus Plan Helps You Buy a Santa Cruz Home

Posted by Lauren Spencer on Sunday, May 24th, 2009 at 8:27am.

The new stimulus plan has given many people new hope for their housing futures. At first, many worried that the stimulus package would merely help the banks and other financial institutions and not the actual homeowner looking to buy a Santa Cruz home.  But, it has become clear that the people who really win with the new plan are those who count—prospective home buyers.

Stimulus for Banks and Buyers

The stimulus package provides huge tax rebates in 2009, and while that is a limited provision, the savings are enormous for those who get out there and buy a new Santa Cruz home. The fact that the stimulus plan includes relief for the struggling financial industry also helps buyers by making it more likely they will be able to obtain loans. 

Stimulus for Luxury Properties

The stimulus package gives the two major government mortgage companies Fannie Mae and Freddie Mac more power and allows for larger loans for higher priced properties. That is a big incentive if you're looking to buy in a major metropolitan area because you will now be able to get a loan secured by Fannie or Freddie.

The economic boost from the stimulus package will require a little time to really become apparent, but it is working, even now.  Slowly the market is rebounding and new home buyers are able to take advantage of loans and tax incentives while getting houses at prices that are extraordinarily low.

If you would like more information on how the stimulus package can help you buy a new Santa Cruz home, give me a call at 831.662.6522 or email me at lauren@laurenspencer.com

 

LINKS:

stimulus plan

Fannie Mae and Freddie Mac

How the stimulus package can help you

About Lauren Spencer

Award-Winning Santa Cruz REALTOR®

Lauren Spencer is your local real estate expert, specializing in Santa Cruz real estate and surrounding communities—this is where she lives, works, and plays too. Let her know your questions about the community and county and she'll be happy to fill you in on all you want to know! Lauren Spencer has consistently been voted best local REALTOR in Santa Cruz and is always happy to offer her advice and expertise. Call her at: 800.226.4717.

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