The FHA, or Federal Housing Administration, has helped many a homeowner buy a Santa Cruz home for sale by providing mortgage insurance through FHA-approved lenders. However, a change in policy, announced in January, may make it harder for those with poor credit.

Before we talk about FHA's change in policy, let's cover a few of the basics about the FHA and how it might help you buy a home for sale.

What is the FHA?
The FHA is a government agency that provides mortgage insurance to approved lending institutions.  It assists homebuyers by providing mortgage insurance to lenders to cover most losses that may occur when a borrower defaults.  This encourages lenders to make loans to borrowers who might otherwise not be able to get a loan.

What is an FHA Loan?
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If you have a Santa Cruz home for sale and it’s sitting vacant, it's a perfect target for vandals. The signs are obvious, such as uncut grass and lights that never come on. In fact, a vacant house doesn’t just look vacant; it feels vacant.

Vandals aren’t the only problem for a vacant home for sale, however. The other problem is that a vacant home usually sells for less and sits longer than a well maintained, occupied home. So what’s the solution?

Well, if you live close by, you can visit the home, cut the grass, turn the lights on and keep it maintained. However, if this is more trouble than you’d rather go through, there’s another option – a live-in home stager.

You’ve probably heard or read a slew of information about home staging. If you haven’t,…

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The extension of the homebuyer’s tax credit, as well as the expansion to include upgrade homebuyers, has a lot of people looking for their dream home. Many are looking for that dream home in the listings for Santa Cruz foreclosures. Why?

The Law of Supply and Demand
Quick marketing lesson: every market is dependent on the law of supply and demand. When the demand for a product is higher than the supply, prices go up. When there’s more product than demand, prices go down.

This is what’s happening now, especially with Santa Cruz foreclosures. Around the U.S., the supply of homes has doubled in the past two years, reaching as high as a ten-month supply. While homebuyers have been reluctant to buy a foreclosure in the past, people are starting to rethink…

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Selling your Santa Cruz home is more than just setting a sale price and placing a sign in your front yard. It is an emotional process that can be stressful and frustrating. Here’s what you can expect to face:

• Putting your home on the market. You may have a difficult time deciding to put your house on the market even if you are being forced to move because of work or family situations. Your home holds memories that can be difficult to leave behind. You may even second guess your decision. This is a normal reaction.

• Showing your home to potential buyers. As buyers walk through your home, you may begin experiencing a new set of emotions. Your home will usually be cleared of excessive family mementos and seem lifeless to you. Keeping your home clean for…

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If you're getting a mortgage on a home, your lender will require an appraisal. This is performed by a licensed appraiser who evaluates your home and determines its value. Here is a guide to your Santa Cruz home’s appraisal terms.
• Age: The actual age of your home is how long since your home has been built. The effective age is the adjusted age of your home based on improvements and repairs.

• Adjustments: Comparison Santa Cruz homes are usually not exact replicas of your home. The appraiser will make adjustments for things like premium views or swimming pools to bring the home values closer together.

• Appraisal: This is the estimated value of your home based on the appraiser’s documentation.

• Comparison approach: A type of appraisal in which your…

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Even though it may sometimes seem like it, home building and design trends are not conjured up using a crystal ball.  They are the result of surveys, observations, lifestyles, socioeconomic issues, entertainment, technology, and most importantly, the needs and desires of buyers.

Here are some of the national and Santa Cruz homes trends to expect in 2010.

Green is growing. 
A study conducted by Burst Media in late December, 2009, found that 90 percent of Web users surveyed have incorporated some aspect of going green into their lives, and overall, they are willing to pay a premium for environmentally friendly products. 

Homes are getting smaller.
For 2010, home builders say they will focus on lower-priced and smaller homes. More than 95 percent of home…

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I can hear you now, “Oh, no! Not another article on curb appeal to sell my Santa Cruz home!” To which I reply, “Oh, yes.” One more time around the block, but this time, we’re doing it in style.

The 21st Century Curb

Curb appeal is that thing you do to pretty up the outside of your home. It’s the landscaping, the painting and the checking of the little details. However, many home sellers (and real estate agents, for that matter), don’t take into account that the curb nowadays isn't just the view from the front of your house. In the 21st century, the “curb” starts right here on the Net.

Your online home listing has only three seconds - three short moments of time - to catch a potential buyer’s eye and turn them into an interested party. Unfortunately,…

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If you’re thinking about buying a Santa Cruz condo, it’s imperative that you know what you’re getting into, and how the past year has changed things. The rules and regulations for condominium mortgages have changed a lot in 2009…

In April, the two government-run mortgage companies, Fannie Mae and Freddie Mac, tightened their guidelines for those looking to own a Santa Cruz condo or any multi-family home. The restrictions make it harder for potential buyers to get financed through Fannie Mae and Freddie Mac, which makes a mortgage more expensive.

The April policy requires that the condominium association and operations be evaluated, as well as your credit qualifications. The new requirements touch on subjects such as:
 
• The association’s insurance
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Once again, the clock is ticking for first-time home buyers to get a home for sale in Santa Cruz before the tax credit runs out. Extended in November, 2009, the first-time buyers’ tax credit is set to expire in April, 2010, and there are no plans for another extension.

What does this mean for you? If you’re a home seller, it’s time to look over your home for sale in Santa Cruz, make sure all your t’s are crossed, i’s are dotted and that you’ve done everything you can to put your home at the front of the buying line. If you’re a first-time or repeat buyer hoping to take advantage of the credit, it’s time to start looking for your new home; the binding sales contract has to be signed by April 30, 2010.

Making the Buying Process Easier

Many times, the…

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When home values started dropping in 2007, a lot of homeowners panicked and immediately began putting their houses on the national and Santa Cruz real estate markets. The supply of homes for sale rose to a staggering amount and prices dropped lower, fueling more homeowners to “get out while they still could.”  However, as 2009 rolled to a close, a new trend that may mean a calming of the panicked markets began.

Meet the Nesters

During the real estate boom, house flippers popped up from everywhere. In fact, flipping houses became such a big industry that cable channel A&E began producing “Flip This House” for those who wanted to try it themselves. Houses had become financial investments, a way to build equity or even immediate cash. However, as prices…

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