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        <title>Santa Cruz Real Estate News &amp; Information</title>
        <link>https://www.mysantacruzrealestate.com/blog/2009-03/</link>
        <description>Lifestyle, community, day trips, restaurants, real estate, home improvements, and more. Discover what makes Santa Cruz County such a great place to live. Presented by My Santa Cruz Real Estate.</description>
<item>
    <guid>https://www.mysantacruzrealestate.com/blog/why-the-stimulus-makes-this-a-great-time-for-first-time-santa-cruz-real-estate-buyers.html</guid>
    <link>https://www.mysantacruzrealestate.com/blog/why-the-stimulus-makes-this-a-great-time-for-first-time-santa-cruz-real-estate-buyers.html</link>
        <author>lauren@laurenspencer.com (Lauren Spencer)</author>
        <title>Why the Stimulus Makes This a Great Time for First-Time Santa Cruz Real Estate Buyers</title>
    <description> <![CDATA[ 
There are great incentives for first-time Santa Cruz real estate buyers. Big tax incentives and money put into the banking and financing industries to give buyers more availability to loans makes now the best time to move when looking for a home. This environment won't last—exactly. Some of the elements put in place are geared toward a strong future for the housing market, but many of the advantages are only good for now.

Tax Relief

First-time Santa Cruz real estate buyers, meaning those who have not owned a home in the past three years, are eligible for a big tax break on income taxes. Next year at tax time all buyers have to do is report the new home purchase to get $8,000 dollars back. That's a big incentive. The drawback is it’s only good for this year. It is retroactive to the beginning of 2009 so even if you have already bought that home you can still claim it, but if you drag your feet hoping for better mortgage financing, or just a better time for your family to get a new home, you will miss out after December 31, 2009.

Affordable Housing

Right now is the time to buy because of prices, too. Thanks to the failings of the housing market, there are tons of homes for sale at prices they would not normally be listed at. If the stimulus plan improves the economy the way it is hoped it will, that won't last. That's great news for homeowners, but not great for those who wait to take advantage of the greatly reduced home prices.

Santa Cruz real estate buyers need to take advantages of all that 2009 and the current real estate market have to offer. There are great deals that will never happen again—hopefully.  

If you’re interested in taking advantage of the 2009 stimulus plan, I can help.  Call me at 831.662.6522 or email me at lauren@laurenspencer.com for more information.



LINKS: 

Big tax break on income taxes 

Mortgage financing
Stimulus plan ]]> </description>
    <pubDate>Fri, 27 Mar 2009 16:28:33 -0700</pubDate>
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    <guid>https://www.mysantacruzrealestate.com/blog/from-a-slow-crawlto-a-brisk-walk.html</guid>
    <link>https://www.mysantacruzrealestate.com/blog/from-a-slow-crawlto-a-brisk-walk.html</link>
        <author>lauren@laurenspencer.com (Lauren Spencer)</author>
        <title>From A Slow Crawl…To a Brisk Walk</title>
    <description> <![CDATA[ 
I heard someone earlier this week say that the housing market has gone from a slow crawl to a brisk walk.  I think that is the perfect metaphor to explain the recent changes in the real estate market.  The market is coming back.  It’s not roaring, but it’s coming back. This week, according to Reuters.com, U.S. mortgage applications jumped as record low interest rates spurred a surge in demand for home refinancing loans.  The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications, which includes both purchase and refinance loans, increased 32.2 percent to 1,159.4 for the week ended March 20.  Refinancing accounted for 78.5 percent of all applications. Furthermore, interest rates on mortgages fell after the Federal Reserve last week said it would buy Treasury securities for the first time in more than four decades as well as more than double its planned purchases of mortgage-related securities.  Reuters.com reported that “Borrowing costs on 30-year fixed-rate mortgages, excluding fees, averaged 4.63 percent, down 0.26 percentage point from the previous week, reaching a record low….Interest rates were well below year-ago levels of 5.74 percent.”

Meanwhile, according to Realty Times, housing starts took a surprise jump of 22 percent in February over January's depressed levels. Most of the increase was attributable to apartments and condominiums, but single family starts were up by one percentage point, and new home permits were up by 11 percent, after months of sharp declines.

Existing home sales are also seeing some good trends.  NAR reported this week that sales activity for single family, townhomes, condominiums and co-ops rose 5.1 percent to a seasonally adjusted annual rate of 4.72 million units in February from a pace of 4.49 million units in January.

The West is leading much of the nation’s recovery, with California leading the charge.  Our median listing price is beginning to rise for the first time in three years.  Existing home sales in the West increased 2.6 percent to an annual rate of 1.2 million in February and remain 30.4 percent higher than a year ago.

Coldwell Banker president and CEO, Jim Gillespie on CNBC’s “Roadmap to Rebound” which focused on the state of the housing stated that “the government could do a lot more than they are already doing in order to get the real estate market moving again.” Congressmen and economists continually say that in order to get the economy going, we need to first get real estate going. Gillespie believes that two key changes are needed in order to get the economy moving, and the first item that needs to be addressed is to set a fixed-rate mortgage. “Lowering the interest rate to 4 to 4.5 for 12 months is one way to get the inventory moving.” Along with setting a fixed-rate mortgage, increasing the tax credit to $15,000 and including all buyers of primary residences will help move buyers along and get the market to shift. Gillespie also stated that the demand side needs to be looked at closely, because once we start to burn off the inventory that we currently have, prices will begin to stabilize and go up again, which will help those in distressed situations. “Fifty-five percent of loan modifications have failed after six months because jobs are not being created and homeowners are losing the jobs they have,” says Gillespie. “In order to create jobs, we need to create demand, both of which will get the housing market and economy moving.”  Now, let’s take a look at this week in real estate: Santa Cruz County—In the past five months the overall inventory level in the county has dropped by about 30 and the number of pendings have gone up about 10 overall.  There seems to be an uptick in activity this week with some positive news from the media and the stock market. Open houses have been very well attended in most areas and new listings are attracting a lot of attention from buyers.  

 

Source: Monthly Market Watch from Coldwell Banker - A Bay Area Real Estate Market Update.
 ]]> </description>
    <pubDate>Fri, 27 Mar 2009 12:46:35 -0700</pubDate>
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    <guid>https://www.mysantacruzrealestate.com/blog/dos-and-donts-of-homeowners-insurance-for-your-santa-cruz-home.html</guid>
    <link>https://www.mysantacruzrealestate.com/blog/dos-and-donts-of-homeowners-insurance-for-your-santa-cruz-home.html</link>
        <author>lauren@laurenspencer.com (Lauren Spencer)</author>
        <title>Dos and Don’ts of Homeowner’s Insurance for Your Santa Cruz Home</title>
    <description> <![CDATA[ 
No matter where you live, you are at risk for some sort of natural disaster, crime, or accident. Since you never know when disaster will strike, you need homeowner’s insurance to protect from loss. Finding the right insurance policy is extremely important, so here are some ideas to consider when looking for homeowner’s insurance for your Santa Cruz home.

• DO make sure you choose a reputable agent and insurance company. Unless you’re well versed in current insurance laws and practices, you will rely heavily on your agent’s advice. This is not the time to do your own work.

• DO buy the right amount of insurance. A lower premium may seem like a great idea now, but you may feel differently if you suffer a major loss. Consider what it will cost you to replace everything in your Santa Cruz home.  Purchase your insurance policy based on that amount.

• DO pay attention to your deductible. Your deductible is the amount of money you have to pay out of your pocket when you file a claim. In most cases, you are better off paying for minor damages on your own without filing an insurance claim.

• DON’T choose your insurance company by price. You may save money on your premium, but ask yourself what you stand to lose if you ever have to file an insurance claim. Make sure you have adequate coverage through a reliable company.

• DON’T lie to your insurer. If you underestimate the value of what you own, you may not have enough money to replace it. If you overestimate the value of what you own, you can be prosecuted for insurance fraud.

• DON’T rely on your home’s purchase or tax appraised value when choosing the amount of insurance you need. You need insurance that will provide enough money to rebuild your home in the event of a total loss.

Your home is an important asset, so make sure you take care of it and get the appropriate amount of homeowner's insurance. 

Let me help you find your next Santa Cruz home. Call me today at 831.662.6522 or email me at lauren@laurenspencer.com

LINKS:

1. Insurance premiums 

2. file an insurance claim 

3. Insurance fraud

 
 ]]> </description>
    <pubDate>Fri, 27 Mar 2009 12:41:35 -0700</pubDate>
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    <guid>https://www.mysantacruzrealestate.com/blog/fixing-up-your-santa-cruz-home-for-sale.html</guid>
    <link>https://www.mysantacruzrealestate.com/blog/fixing-up-your-santa-cruz-home-for-sale.html</link>
        <author>lauren@laurenspencer.com (Lauren Spencer)</author>
        <title>Fixing Up Your Santa Cruz Home for Sale</title>
    <description> <![CDATA[ 
If you are thinking about putting up your Santa Cruz home for sale, you may start to look around the house with an eye for increasing its value.  Here are some inexpensive things you can do to increase the value of your home:

The KitchenWhen buyers walk through a Santa Cruz home for sale, one of the first places they look is the kitchen.  A well put together kitchen is a big plus, so make sure it looks clean and up-to-date.  

• Replace old lighting fixtures with brighter, more energy-efficient ones.• Replace the old kitchen faucet set to something more modern and clean.• Add new cabinet doors and drawer handles.• Reface your cabinets – this takes a little more time and money to do, but the results can be outstanding.  Or, you could order replacement doors and door fronts and install them yourself.• If your appliances don't match, you can order a face panel.  Also, check with your manufacturer; some appliance panels have another color on the back (white on one side, black on the other, for instance), and you can just flip them over.

The BathroomThis is another &quot;first go&quot; place for buyers.  Again, most of these are inexpensive and easy to do yourself.• Install a new toilet seat – even a little change can make a difference.• If your bathroom is small but you have a large vanity, try installing a pedestal sink instead.  It can make the room look larger.• Re-grout the tile if your tub and shower look dingy.  Replace any cracked tile.• If need be, try a prefabricated tub and shower surround.  It may be a little more expensive, but it can make a bath look brand new.

If you're thinking about putting up your Santa Cruz home for sale, try these inexpensive tips and then look around the rest of your home.  You'll be surprised what a few dollars and a little time can do

Are you ready to sell your home for top dollar?  Give me a call today at 831.662.6522 or email me at lauren@laurenspencer.com

LINKS:

Lighting fixtures 

Drawer handles 

Prefabricated tub and shower surround 
 ]]> </description>
    <pubDate>Thu, 26 Mar 2009 17:28:24 -0700</pubDate>
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    <guid>https://www.mysantacruzrealestate.com/blog/how-the-stimulus-plan-might-affect-santa-cruz-condo-buyers-and-sellers.html</guid>
    <link>https://www.mysantacruzrealestate.com/blog/how-the-stimulus-plan-might-affect-santa-cruz-condo-buyers-and-sellers.html</link>
        <author>lauren@laurenspencer.com (Lauren Spencer)</author>
        <title>How the Stimulus Plan Might Affect Santa Cruz Condo Buyers and Sellers</title>
    <description> <![CDATA[ 
The stimulus, the stimulus—it is hard to go to a news site or blog now without seeing something about the stimulus plan, good or bad. The one thing that seems to be a common thought is everybody hopes it works whether they like the plan or not. There are many ways the stimulus plan might affect Santa Cruz condo buyers and sellers.

Buyer Incentive

The biggest boon to both buyers and sellers is the proposed tax break for any first-time buyer purchasing a home (including condos) in 2009. That last part is the one down point in the plan. Homes must be purchased in the current year, retroactive to the beginning of 2009, and ending December 31st. That should, however provide a decent impetus to get things moving again. While it is short lived, it could boost the market long enough so that the forward motion continues past this year.

Mortgage Incentive

Not for the buyers and sellers in particular, the banking and finance industry is set to receive the biggest portion of the stimulus plan. That can only help both buyers and sellers of Santa Cruz condo units, though, as it will mean buyers will once again have the ability to get mortgage loans.

More expensive luxury homes and condos will also be given lower interest rates and affordable mortgage loans. There does seem to be some argument over whether the stimulus plan will raise or lower mortgage rates so that remains to be seen.

If you want to take advantage of the stimulus plan, I can help.  Call me at 831.662.6522, or email me at lauren@laurenspencer.com for more information.

LINKS:

Stimulus plan

Mortgage rates

Mortgage loans
 ]]> </description>
    <pubDate>Wed, 25 Mar 2009 11:41:05 -0700</pubDate>
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    <guid>https://www.mysantacruzrealestate.com/blog/7-tips-for-packing-to-move-into-your-new-santa-cruz-home.html</guid>
    <link>https://www.mysantacruzrealestate.com/blog/7-tips-for-packing-to-move-into-your-new-santa-cruz-home.html</link>
        <author>lauren@laurenspencer.com (Lauren Spencer)</author>
        <title>7 Tips for Packing to Move into Your New Santa Cruz Home</title>
    <description> <![CDATA[ 
You've just bought a new Santa Cruz home, and you're ready to pack.  If you find yourself staring at the rooms in bewilderment, wondering how you're going to pack it all, take a look at these helpful tips.

Tip 1:  Have plenty of boxes.  Too many is better than too few.  If you buy boxes from a moving company you can return them for a refund.  Extra boxes from a grocery store can just be thrown away if you have too many.

Tip 2:  Pick a color for each room.  Use color-coded stickers to mark which boxes go where.  There's no need to open a box to see what it is; just look at the sticker color.  Be sure to make a list of the color associated with each room.

Tip 3:  Pack heavy things in small boxes.  This makes them less bulky and easier to carry.  It  also makes it less likely that you'll drop them or that the box will break.

Tip 4:  Put all furniture accessories in one box.  Furniture knobs, feet, screws or legs should all be in one container, clearly marked, so the parts won't get lost.

Tip 5:  Load what you'll need first, last.  Make sure that items you'll need as soon as you get in your new Santa Cruz home, such as a telephone or cleaning supplies, are loaded last.  

Tip 6:  Pack for the first day.  Use a separate bag for toiletries, a change of clothes, etc – whatever you might need for the first day.  This way, there's no need to run to the store for things you can't find or dig through boxes to find them.

Tip 7:  Save extra boxes for moving day.  You will forget something - it's guaranteed.  Rather than try to stuff it all in your car, have extra boxes set aside for any last minute items such as blankets, towels and pillows.

Follow these tips to help make the move into your new Santa Cruz home a smooth, easy transition.

Would you like to move into a new home?  Let me help you select a home that's perfect for you.  Call me today at 831.662.6522 or email me at lauren@laurenspencer.com

 

LINKS:

1. Moving company

2. Color-coded stickers

3. Furniture knobs
 ]]> </description>
    <pubDate>Wed, 25 Mar 2009 10:44:03 -0700</pubDate>
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    <guid>https://www.mysantacruzrealestate.com/blog/the-three-rs-of-fixing-historic-santa-cruz-homes-for-sale.html</guid>
    <link>https://www.mysantacruzrealestate.com/blog/the-three-rs-of-fixing-historic-santa-cruz-homes-for-sale.html</link>
        <author>lauren@laurenspencer.com (Lauren Spencer)</author>
        <title>The Three R’s of Fixing Historic Santa Cruz Homes for Sale</title>
    <description> <![CDATA[ 
If you enjoy history and fixing things, then it may be hard to drive by historic Santa Cruz homes for sale without feeling the urge to buy one and fix it up.  Before you do, you need learn the three R’s of fixing up historic homes and the differences between them.

The three R’s of fixing up historic homes are restoration, renovation and repair.  Some of the differences are minor, but they can make all the difference in cost, time and problems.

Restoration 

“Restoration” literally means returning something to its original state.  

Restoring historic Santa Cruz homes for sale involve city and state programs.  It’s essential that you check to see if the home is listed on the National Register of Historic Places (NRHP) or if it’s located in a historic district.  If either of these is the case, there is a specific set of rules that you must follow while renovating.  

Cost: Restoration is not a cheap endeavor.  For a home to keep its historic value, the materials used need to match the original materials, including furnishings.  These can be very expensive, due to their antique value.

Renovation

Renovating is less complicated than restoring, at least when talking about what you can and can’t do.  However, with a renovation, you’re generally turning the home into a more modern living place, which lowers its historic value.  Make sure it isn’t listed in the NRHP or located in a historic district.

Cost: Depending on the amount of renovations, i.e., modernizing, gutting or remodeling, this can also be expensive.  However, it’s much easier to find deals on modern appliances than it is on antiques.

Repair

Repairs differ because they generally aren’t as in depth as the others.  For restoration repairs, it’s important to use materials that fit the house, such as plaster walls and wooden floors.  For renovation, original materials aren’t as important.  

Cost: Again, the cost depends on the number of repairs, as well as, whether you’re keeping the historic value.  

Whether restoring, renovating or repairing historic Santa Cruz homes for sale, the key is cost.  Don’t get so caught up in the possible that you miss the probable.

Thinking of buying or selling an historic Santa Cruz home?  I can help  Call me today at 831.662.6522 or email me at lauren@laurenspencer.com

 

LINKS:

National Register of Historic Places 

Historic district 

Modern appliances 
 ]]> </description>
    <pubDate>Fri, 20 Mar 2009 12:39:07 -0700</pubDate>
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