Getting Paid To Buy A House Ends Today....Or Does It?

The deadline for earning federal tax credits associated with the American Recovery and Reinvestment Act is today. To qualify for the credits of up to $8,000, most home buyers must "enter in to a binding contract" by the end of the day today and close on their purchase by June 30.

There is an exception however. Members of the uniformed services, members of the Foreign Service and employees of the intelligence community have another year to qualify.

Not a soldier, foreign diplomat or government spy? Don't fret. There is another little known method you can take advantage of to have the government give you money for buying a house.

Home buyers who purchase a Fannie Mae foreclosure may be eligible for a credit of up to 3.5% of the purchase price to pay for closing costs and/or new appliances. That's $8,050 for a purchase of $230,000; more than the expiring tax credits!

There are many Fannie Mae-owned houses currently for sale in Central Oregon that are in great shape and priced to sell quickly. Combined with historically low interest rates in the 5% range and thousands of dollars in incentives being offered to purchase them, now really may be the best time to buy a new home for you and your family.

Please call me for more details about these and other money saving opportunities available to you for purchasing a home.

Bend Home Sales Up, Prices Stable in March

Sales of stick built houses on less than one acre in Bend increased 46.8% from a year earlier in March. Prices declined just 1.5% year-over-year.

138 houses were reported sold last month compared to 94 in March 2009.

The median sale price per square foot was $109.83, versus $111.53 a year earlier.

With 739 houses currently listed for sale, the inventory of homes for sale is currently 5.36 months. 6 months of inventory is generally considered to indicate a balanced market.