1. Free Money. The $8,000 tax credit for first time home buyers was extended to June 30, 2010 as long as a binding sales contract is signed on or before April 30, 2010. This is a special tax credit from the government that you don't have to pay back, as long as you stay in the home for at least 36 months. There is also a new $6,500 tax credit program for qualified move-up/repeat home buyers using the same dates as the first time home buyer tax credit. You can learn more about each of these programs in past blogs posted on My Website at www.CentralOregonLiving.com.

2. Affordability. Based on recent property declines and current interest rates, home affordability has not been higher since it was first tracked over 40 years ago. Your grandparents couldn't have received a better interest rate than you can today.

3. Tax Breaks. The IRS allows you to deduct the interest you pay on your mortgage, your property taxes and, in many cases for those who qualify, some of the costs to Buy your home and mortgage insurance. Owning a home is a great way to lower your tax bill.

4. Build Wealth. Unlike paying rent, with each mortgage payment you make, you build equity and you decrease your income tax liability. Owning a home is still the best long-term investment.

5. Appreciation. As home prices have fallen precipitously in today's tough economy, the basis for realizing appreciation in future years is very strong. Historically, even with other periods of declining value, home prices have exceeded consumer inflation. From 1972 through 2005, home prices increased on average 6.5%, according to the National Association of Realtors®.

6. Stability. Knowing you can establish roots and raise a family in one location, free of the desires or needs of your landlord to Sell the property you are living in. This is something no other investment provides. You can't live in a stock, and you can't raise your kids in a bond.

7. Independence. Enjoy the freedom to do what you want to your home. After all, it's yours to do what you wish. And, with any improvements you make, you have the ability to benefit from your investment. Try that with an apartment!

I’m here to help you with your Real Estate needs. If you have any questions, or if you want to look further into how easy it may be for you to Buy or Sell a home in Central Oregon, please let me know.