The housing plan included in President Obama's stimulus package has many good qualities that will help those seeking Santa Cruz real estate.

There are two main points to the housing plan:

1. To help people once again obtain reasonable mortgages to afford the home of their dreams.

2. To keep people in the homes they already have. If it works the way it is planned, it is reason for a collective sigh of relief for millions of homeowners feeling threatened by foreclosures.

That's really it in a nutshell. There are many incentives wrapped up in each of those two areas to help both homeowners and prospective home buyers, but the very impetus behind the stimulus housing package is simple.

For Current Homeowners

If you have a current mortgage that you…

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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…

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Are you considering buying your first home?  I'm sure you already know that now's an amazing time to buy your first home.  You have the perfect combination of low interest rates, low Santa Cruz home prices and President Obama's stimulus plan which gives you additional incentive to buy now.

To help make your first time Santa Cruz home buying experience the best it can be, here are some tips:

1) Know What You Can Afford

It is easy to get carried away with what you want versus what you can actually afford. Start with reasonable expectations.

2) Decide Exactly What You Need

Consider your current family status and what your immediate future might hold, then decide on the number of bedrooms you require and the amenities you feel you can't do without. If…

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