Oregon Mortgage News

Central Oregon Riverfront Property on Pringle Falls

Thesa Chambers, my go to real estate professional in Central Oregon, has a wonderful listing on The Big Deschutes River. Located in a cute community of Wild River, this home is a must see.

One of my dreams is to own a riverfront home. Especially on a super Trout stream like The Big Deschutes River. I can just imagine waking up in the morning and taking my fly fishing pole out for a quick fish before work, and then having a cup of coffee on the deck with the sound of Pringle Falls and The Big Deschutes River comforting me.

As Thesa says, this is one of the best real estate deals in Central Oregon at $239,900.

Oh, did I mention that the community is wired? Make this your home office and telecommute!

If you are looking for a home to live in, financing is available through the USDA Guaranteed Rural Home Loan program at 100% with no monthly mortgage insurance. Click here for more info on the USDA program.

If your income disqualifies you from the USDA program, the FHA has financing with 3 1/2% down. Click here for more info on the FHA loan.

For a 2nd home, you will need a little more cash down, but rates are still historically low!!

Better hurry on this one. I'm tempted to make an offer myself!!

Call me for the financing of this great property.

New Bill Seeks to Extend, and Expand, the $8000 Tax Credit for Oregon Home Buyers

Janet Guilbault posted an interesting, and somewhat expected, post today. There is a new bill before Congress (Home Ownership Moves the Economy Act of 2009 HR 2801) that is set to extend the $8000 Tax Credit and to expand it to more home buyers. This is good news for Oregon Home Buyers!

While I have mixed feelings about more Govt. spending, I do agree that we are still not out of this economic mess. I have also seen first hand how the first time home buyer market in Oregon has increase property values due in large part to the $8000 tax credit.

We have also seen Builders adapt to the Oregon First Time Home Buyer market. The majority of homes being built now are aimed at this segment. This has helped stimulate our local economy in Newberg to a small degree. Combined with low rates and the USDA Guaranteed Rural Home Loan, there has been continued building in some of our areas.

What we need, is help for the "Move-Up" market. The $250,000 to $400,000 market in our area. These are the homes that are going into foreclosure the most. Many homeowners are sitting on the fence afaid to buy a new home. They have lost a lot of equity in their current home and are unsure about the future.

With a resurgence in the First Time Home Buyer market here in Oregon, many of these sellers could sell with a reasonable profit. With the addition of a Tax Credit, they just might get off the fence and take advantage of many wonderful opportunities for nice homes in the $250,000 to $400,000 range.

It will be interesting to see what Congress does, and to what degree it will stimulate the economy.

We are having a First Time Home Buyer Seminar in September. Click HERE for information

Here is Janet's post

Oregon First Time Home Buyer Seminar
and the
$8000 Tax Credit

On December 1, 2009, the $8000 First Time Home Buyer Tax Credit is set to cease. In order to receive this credit, the home purchase must be finalized. This means that we have roughly 90 days in order to get pre-approved, find a home and get it through underwriting. While this sounds like a lot of time, it's not.

If you are at all interested in purchaing an Oregon home, and are a First Time Home Buyer, and want to take advantage of an $8000 cash refund from our government, then you need to make it to our Oregon First Time Buyer Seminar on the $8000 Tax Credit.

Scheduled over 3 consecutive Tuesday evenings, and costing just $25 for an individual or $40 for a couple, you will learn what to look for in a property, what to expect in our market, the various types of mortgages available in Oregon for First Time Home Buyers. You will receive a 'game plan" and work book to help you move forward. We will analyze your credit report and documentation and by the end of the 3 week course, you will receive a pre-approval decision letting you know how much home you can afford to purchase.

If you are a First Time Home Buyer and motivated to purchase an Oregon Home before now and December 1st, 2009, the date the $8000 Tax Credit is set to expire, you cannot afford to miss this important seminar.