Stimulus Plan

Closing Deadline Extended for your Santa Cruz Real Estate

Saturday, August 14th, 2010 at 1:01am. 14 Views, 0 Comments.

If you’re in the middle of buying Santa Cruz real estate, for which you’re hoping to get a Homebuyer Tax Credit of up to $8,000, you have more time to finalize it.

After a close brush with the deadline, Congress passed a 90-day extension of the Homebuyer Tax Credit closing deadline. The extension applies only to buyers who have written, binding contracts in place as of April 30, 2010. The new closing deadline is now September 30, 2010.

Extending the tax credit closing deadline will provide additional stability to Santa Cruz real estate and real estate markets nationwide. Additionally, the National Association of REALTORS® (NAR) estimates that this new extension will help about 180,000 to 200,000 homebuyers who already signed purchase agreements and…

Need Extra Time to Finalize Your Santa Cruz Home Purchase to Qualify for Tax Credits?

Wednesday, July 21st, 2010 at 1:01am. 18 Views, 0 Comments.

On June 16, the Senate approved a plan to give homebuyers an extra three months to finish qualifying for federal tax incentives. If the plan passes, it means you’ll have until September 30, 2010, to close on your Santa Cruz home and qualify for tax credits of up to $8,000. (First-time buyers were eligible for a tax credit of up to $8,000. Current owners who bought and moved into another home could qualify for a credit of up to $6,500.)

Who Qualifies?

Originally, you had to sign a contract to purchase a home by April 30, 2010, and close no later than June 30, 2010. With this extension, anyone who had a signed purchase agreement by April 30 would have until September 30 to close on the sale of that home.

Why the Extension?

Mortgage lenders have been swamped…

Worried About Your Home for Sale in Santa Cruz? Survey Reveals Possibilities

Tuesday, July 13th, 2010 at 1:01am. 21 Views, 0 Comments.

Many real estate aficionados worried that the ending of the homebuyer tax credits would mean an end to sales. However, a new real estate survey, conducted April, 2010, says homeowners with a home for sale in Santa Cruz and throughout the nation have more chances to sell their homes.

Survey Group
     • 1,000 American consumers
     • Ages 25 – 64
     • $35,000 + household income

Survey Results
     • Over 90% of American consumers think the homebuyer tax credit program helped the real estate industry and first-time buyers.
     • 65% actually looking for a home don’t consider the end of the tax credit program to be a factor in their own decisions.
     • 46% expect area real estate prices to increase over the next year.
     • 12% expect area real estate prices…

6 Essential Spring Cleaning Chores to Make Your Santa Cruz Home Shine

Friday, April 30th, 2010 at 1:01am. 39 Views, 0 Comments.

If the thought of spring cleaning your Santa Cruz home doesn’t bring a smile to your face, you’re not alone. To help you (and me) get going now, I’ve come up with this short list of the 6 essential, in my opinion, spring cleaning chores:

1. Store winter clothes: It’s time to pack away your winter clothes. Coats, sweaters, and your heavy winter clothing need to be inspected, cleaned if needed and packed away. Don’t skip the step of cleaning, or, when you get your clothes out of storage next fall, you might find that they’ve been damaged beyond repair by insects or set in stains. Where should you store your clothes? Somewhere clean, cool, dark and dry.

2. Wash window treatments: Spring is the perfect time to inspect and clean the window treatments in…

Economists Predict Second Quarter Woes Fading for National and Santa Cruz Real Estate

Wednesday, April 14th, 2010 at 1:01am. 48 Views, 0 Comments.

Government support in the national and Santa Cruz real estate sectors is slowly being pulled back. For instance, the federal homebuyer’s tax credit expires this month and the Fed stopped purchasing mortgage-backed securities in March. These two changes in financial backing for the housing market are causing worry because people fear the expiring tax credit will cause a dramatic drop in sales.

An important question right now is how much did the government support really help the national and Santa Cruz real estate markets and the economy?

The Economy
Dean Maki, chief U.S. economist for Barclays Capital (New York) and one of the most accurate economic forecasters for the past 20 years, says the U.S. economy is on the rise. Many economists share Maki’s view: …

April 5th – An Important Date for Santa Cruz Homes for Sale

Saturday, April 10th, 2010 at 1:01am. 74 Views, 0 Comments.

April has a lot of important and semi-important dates in it. The tax deadline, Good Friday and Easter are just a few. What is April 5th, though, and what does it have to do with Santa Cruz homes for sale? Well, the biggest news is that the government has stepped into real estate and short sales.

Home sales are down nation-wide, despite the Obama administration’s efforts with the first-time buyer’s tax credit. Many homebuyers are waiting for a better interest rate or to see if home prices will drop more. Meanwhile, owners with Santa Cruz homes for sale are preparing for the spring selling season, without any idea whether they’ll actually be able to sell or not.

Part of the reason for this situation is because of the depreciated housing values. For instance,…

Choosing the Right Santa Cruz Home for You

Saturday, March 13th, 2010 at 1:01am. 35 Views, 0 Comments.

As you are looking for the ideal home for you and your family, you may find yourself trying to decide between two similar homes. You could have worse problems than this on your Santa Cruz home search, but how do you decide which home is better for you and your family?
Here are primary points to consider:

1. Location. This is where you are going to live. You need to consider how far away it is from work, schools, and shopping. You probably want to do as little driving as possible. A Santa Cruz home close to where you will be spending your time away from home may be the better choice for you.

2. Home repairs. What will you need to do to the home once you move in? Think about the time and money you will have to invest in the home before making your decision. A…

Before Painting Your Santa Cruz Home For Sale

Sunday, March 7th, 2010 at 1:01am. 52 Views, 0 Comments.

Nothing makes a Santa Cruz home for sale look better than a new coat of paint. Many people are intimidated by the thought of painting the exterior of their home, and hire someone else to do it. But, you can do it yourself, with these easy steps:

Getting Your House Ready to Paint
The first thing that you’ll need to do is inspect the house. Look at all the walls, under the eaves and around the doorframe and windows. Check for peeling paint, mildew and rough surfaces.
You’ll need to gather a few tools before getting to the repairs and putting your Santa Cruz home up for sale:

• Power-washer
• 2-3” inch putty knife
• 2-3” inch pull scraper
• Wire brush
• Sander
• Chlorine bleach

Preparing the Surface
Power-wash the walls so you'll have a clean surface. You don’t…

Buying Santa Cruz Real Estate: Money, Mortgages and Closing Costs

Monday, March 1st, 2010 at 1:01am. 47 Views, 0 Comments.

Because buying Santa Cruz real estate is one of the most important and expensive purchases you’ll ever make, it's worth the time to consider ways you can save money. Here are a few ideas on how to save money on your mortgage and closing costs:

Pay Attention

You have to pay attention to how much the Santa Cruz real estate costs. You have to pay attention to how much the house is worth and how much more you may have to put in the kitty for any repairs that may need to be done. Use these details to negotiate.

Negotiate with the Seller

Negotiating with the seller is expected. You already know you can negotiate on the price of the home, but did you know you can also negotiate who pays the closing costs? In this buyer's market, it has become common to ask the…

FAQs on Tax Credits for Buying Homes for Sale in Santa Cruz

Saturday, February 27th, 2010 at 1:01am. 43 Views, 0 Comments.

Thousands of potential buyers of homes for sale in Santa Cruz are now homeowners, thanks to the first-time homebuyer tax credit. You could be eligible for a tax credit if you bought a home in 2009 or plan to buy one before April, 2010. But which one are you eligible for?

If you have two or three hours to spend reading the information about the homebuyer tax credit, you'll be able to figure out if you're eligible. But, most people don’t have the time or patience. To shorten your learning curve, here are a few tips, pointers and frequently asked (and answered) questions about the tax credit:

Three Kinds of Homebuyer Tax Credits
There are actually three kinds of tax credits:

1. The original first-time homebuyer tax credit, enacted in 2008, covers the homes…