About Santa Cruz County, CA

Santa Cruz CA Foreclosure and Short Sale Prevention-

Foreclosure can be overwhelming event for most people. Often times the feelings of hoplessness can paralyze you and make you feel like you don't have choices. We can't promise we can help you but we have specialized training in pre-foreclosure negotiation that may save you from foreclosure and may even be able to keep you in your home.

We empathize with your situation and understand and we want you to know we have helped many people in your situation and have had good results come out of a bad situation.

Here is some information below that may be of help to you and your family. If you are someone in your family is struggling to prevent foreclosure call John Flaniken at 831-334-0890 to receive immediate advice and real solutions.

The U.S. Department of the Treasury and the Department of Housing and Urban Development (HUD) has launched a new website for consumers seeking information about the Obama Administration's Making Home Affordable loan modification and refinancing program.

Distressed home owners who are under pressure of possible foreclosure or short sale may find some help at this government website. This Home Loan Modification or Refinancing program may help Santa Cruz CA homeowners with short sale and foreclosure prevention.

New Making Home Affordable loan modification and refinancing program will offer assistance to as many as 7 to 9 million homeowners who are making a good faith effort to make their mortgage payments.

MakingHomeAffordable.gov offers features including interactive self-assessment tools that will empower borrowers to determine if they're eligible to participate and calculate the monthly mortgage payment reductions they could stand to realize under the Making Home Affordable program. You can see the complete Home Affordable Loan Modification Program Guidlines here.

Features of the MakingHomeAffordable.gov website include:

• Extensive information about the Administration's Making Home Affordable plan
• Self assessment tools to allow borrowers to determine if they are eligible for the program
• A calculator feature that allows homeowners to estimate the reduction to their monthly mortgage payment that they might stand to realize under the plan
• Resources to find free, HUD-approved counseling services for borrowers who have additional questions
• A handy checklist to ensure homeowners collect all the documents they need before calling their servicers
  



Here are the highlights of the loan modification program:

• Mortgages for single-family properties that are worth more than $729,750 are excluded from the provisions of this bill. For two families the amount is $934,200. For three families the amount is $1,129,250 and for four families the amount is $1,403,400.

• Interest rates can be lowered to a minimum of 2 percent and then if necessary, the term of the loan can be extended to a maximum of 40 years.

• The home must be a primary residence and verified as such with a tax return, credit report, and other documentation such as a utility bill. The home may not be investor-owned property.

• The home may not be vacant or condemned.

• Borrowers must provide their most recent tax return and two pay stubs, as well as an "affidavit of financial hardship" to be qualified.

• Borrowers in bankruptcy are not automatically eliminated from consideration for a modification in this program.

• Borrowers in active litigation regarding the mortgage loan can qualify for a modification without waiving their legal rights.

• Borrowers are only allowed to have their loans modified once, and the program only applies for loans made on Jan. 1, 2009 or earlier.

• Eligibility is restricted to loans originated on or before January 1, 2009.

• Incentives are provided to extinguish second liens on loans modified under the program.

• Homeowners are eligible for up to $1,000 of principal reduction payments each year for up to five years.

• Separately, up to 5 million borrowers who have mortgages held by government controlled mortgage finance giants Fannie Mae and Freddie Mac should be eligible to refinance through June 2010.

The website also has a page to warn homeowners in distress to Beware of any person or organization that asks you to pay a fee in exchange for housing counseling services or modification of a delinquent loan. Do not pay - walk away!careful of scams

While the government has take a few big steps to get the nations housing back on track, there are some that are so far in over their head that even a loan modification is not going to help.

There are still options available that can be taken to avoid foreclosure. A short sale is one of the means that may allow you to sell your home and get rid of your debt.

John's Website: www.sellsantacruz.com

Santa Cruz Real Estate Investors Edge and Investors Edge - Home Foreclosures for sale on the court house steps.
Anyone interested in buying a foreclosure in Santa Cruz should check out  Investors Edge - Home Foreclosures for sale. Liese Varenkamp is the owner of Santa Cruz Records and publisher of a magazine called The Investors Edge. I talked to her before the first trustee sale for the year, on January 4th 2010. She told me she had over 80 sales scheduled, and that this was a record number. I thought could it be as predicted that the inventory of distressed properties was going to be for sale? Well no only 4 properties had opening bids at 1:30pm the scheduled time of the sale. The banks often have Liese waiting to get notice of the opening bid or she is told that they have postponed or canceled the sale. The Santa Cruz Sentinel wrote about "Investors seeking foreclosure bargains often come up empty."

I have learned a great deal from Liese Varenkamp over the years. I highly recommend that you subscribe to The Santa Cruz Real Estate Investors Edge This magazine covers Santa Cruz County, Monterey County and San Benito County.

There are many things to consider when buying a property to live in or as an investment. Foreclosures and trustee sales do not come with any disclosures from the seller about the property. You do not have the benefit of title insurance at a trustee sale. Do your research on the property before the sale date, know the value of the sold properties, the condition, and if someone is living there, make sure you follow the local laws.

Let's get together and make this Real Estate market the best ever for buyers and sellers. 

Why Buy Now????? Take advantage of the First Time Buyer and other Tax Credits!!!!

If you've been waiting for home prices or interest rates to fall further before you buy a home, it's time to rethink your strategy. If you act soon, you'll be able to take advantage of historically low prices and interest rates that won't be around forever. And if you're a first-time buyer and you act very soon, you can still take advantage of an $8,000 tax credit. There's even a tax credit of $6500 for people who have lived in their homes for five of the last eight years to move out, move up or even downsize!!! Tax credit details

While poor market conditions have created a troubling situation for some homeowners, the downturn has made the buying market ripe for others. The affordability of homes is better than ever. The National Association of Realtors' housing affordability index concluded that homes in December of 2008 were more affordable than at any other point since 1970 the start of the index. A new survey reveals that savvy consumers cashing in on the new and improved homebuyer tax credit are helping fuel economic recovery.

What you need to know about the Santa Cruz area Real Estate Market:

● The median price for homes declined 11% from January, and was down 10.5% year-over-year.

● Inventory was up slightly from January. (.6%)

● The sales price to list price ratio rose .6 of a point to 98.8%.

● Days on market decline 7 days to 71.

That means prices are still declining, and inventory is selling more quickly. Don't miss out on this fabulous opportunity to buy the home of your dreams!!!!!!!!!

Good real estate agents will listen to your wants and needs and arrange to show only those homes that fit your particular parameters. Sandy is well known in the community as an agent who listens well and offers her buyers many choices and creative solutions to their buying and selling needs. Contact Sandy (831) 818 7099 Sandy Sells Santa Cruz!!!!

The first step is to make an appointment for a buyer's consultation with me at my office. If you have been searching online you need to have your own search set up. This will email you the new listings and price reductions everyday. Sign up here.

Santa Cruz CA Real Estate - Tax Credit for home buyers!

Here is some good news for Santa Cruz home buyers who want to buy a home as a principal residence. President Obama has signed off on a Homebuyer Tax Credit bill approving an extension until June 30 2010 for up to a $8,000 tax credit.

For more infomation go to: The 6 Things You Need to Know about the 15000 Credit.

Qualification Period: In order to quality first time home buyers must have purchased have been in a binding contract by April 30 2010 and close by June 30, 2010. Both you and your spouse income must meet the income criteria to qualify and the total amount claimable is still only total $8,000 for a couple.

Details on the Tax Credit Extension:

• $8000 tax credit for first-time home buyers who sign a contract by April 30, 2010 (and who close by the end of June.)
• $6500 tax credit offered to homebuyers who live in their current residence at least five years and who want o buy a new primary residence.
• Couples earning as much as $225,000 a year and individual earning up to $125,000 would qualify.
• Tax Credit no applicable for those buying homes worth more than $800,000.
• Those who sell their new home or stop using it as their main residence within three years would have to repay the credit.

To view the press release: Senate Unanimously Approved Isakson Amendment to Stimulate Housing Market.

Finding the right house in Santa Cruz is one piece of your real estate search. Ensuring you know as much as possible about what's going on in the market will help you to make smarter in the buying process. Let me help you stay informed about key market information.

What do you think of the tax credit extension? Is it good or bad? Give us your opinion at john@sellsantacruz.com

Call me or send me an email for questions or information about Santa Cruz Real Estate or Tax Credits at 831-334-0890.

John Flaniken American Dream Realty
Santa Cruz County Real Estate
Santa Cruz County Realtor
831- 334-0890

Website: www.sellsantacruz.com

CORRALITOS HOMES - HOME PRICES IN CORRALITOS, CA

Corralitos is a small area in Santa Cruz County of about 9 square miles between Aptos & Watsonville. Much of Corralitos lies in the Santa Cruz Mountains and land nearby. There are several great wineries in Corralitos including Alfaro Vineyards and Windy Oaks Winery. Also there are the world famous Corralitos sausages found at the Corraltios market - make sure to try these! Agricultural crops are grown in Corralitos as well including many types of berries and apples.

Corralitos is a beautiful, tranquil part of Santa Cruz County. Corralitos homes can range from Mountain estates with vineyards to old farmhouses and everything in between. Most Corralitos homes do come with a bit of land so for those looking for more peace and quiet this is a good part of Santa Cruz County for you.

Prices of Corralitos Homes have dropped in the past few years. In 2007 the median price of a Corralitos Home was $830,000, in 2008 the median home price was $596,500 and in 2009 the median price of Corralitos Homes dropped to $475,000. The drop in home prices has a lot to do with the amount of low priced foreclosures selling and less of the large estate homes with acerage selling that go for over 1 million.

GRAPH OF MEDIAN PRICE OF CORRALITOS HOMES 2008-2009

Because Corralitos has a pretty small population the # of Corralitos Homes sold annually is not a lot. In 2009, 21 Corralitos homes were sold and in 2008, 26 homes in Corralitos were sold.

Recently the # of Corralitos homes for sale on the market has dropped slightly so there is less inventory. If this lack of good inventory persists perhaps we will start to see the median price of Corralitos homes start to stabilize. Also the average # of days on market has dropped from 204 DOM in 2008 to 135 days on market in 2009.

Graph of # of Corralitos Homes for Sale by month 2008 -2009

For advice about selling your Corralitos Home please feel free to contact me directly at (831) 419-9345.

For those interested in Buying a Corraltios Home there are many types of beautiful properties in the Corralitos area in various price ranges. Contact me for more information and start here to Search for your Corraltios Home !