The $8,000 first time home buyer tax credit will be expiring November 30, 2009. Your chance to capture this one time credit is quickly running out. In order to take advantage of the tax credit your transaction must be recorded by November 30, 2009. That gives you roughly two weeks to identify and place an offer on your first home. Why so soon?
Real estate transactions are taking, on average, two weeks longer to close because of the new lending laws enacted earlier this year. What used to take 30 days to close is now approaching 45 days to close and record your purchase.
So, don't delay on utilizing this gift from our government. All though there is talk of extending this credit, there is no guarantee it will be extended.
Central Oregon home prices are at bargain levels right now. Combine that with the attractive mortgage rates and chances are your mortgage payment may be the same as your monthly rent.
Give me a call and start the process of home ownership!
Friday, October 2, 2009
Bend, Oregon Foreclosure & Short Sale Report ~ Oct. '09
Active Residential Listing Report ~ October 2, 2009
| City: | Bend | Redmond | Sisters | Prineville |
| Active Res. Listings: | 1736 | 687 | 229 | 319 |
| Active Short Sales: | 567 (33%) | 241 (35%) | 15 (7%) | 62 (19%) |
| Bank Owned Listings: | 177 (10%) | 104 (15%) | 10 (4%) | 36 (11%) |
I will be compiling this list of foreclosures and short sales in hopes of determining the bottom of our Central Oregon real estate market. With Bend and Redmond hitting 43% and 50% combined distressed listings I would say we have a ways to go. Even though these numbers have been rising over the past 10 months, the number of homes being sold has risen as well. Distressed listings are making up 50% of all home sales in the past several months.
For a list of Bend Oregon Foreclosures or Bend Oregon Short Sales follow the links. You can also request other Central Oregon cities by following the above links as well.
Troy Batson is a licensed broker in the State of Oregon ~ troybatson.com ~ Duke Warner Realty ~ 1033 NW Newport Ave. Bend, OR 97701 ~ (541)382-8262
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