I have been asked, why should I become a home owner? I have been renting for 5 years and am perfectly happy with my situation. The short answer to that is, “maybe you shouldn’t.” Not everyone should buy a home and a lot of First Time Home Buyers were sold homes that they shouldn’t have bought because the financing was too easy. That had an effect on where we are today. However, that being said, there are a lot of great reasons to become a First Time Home Buyer in today’s more restrictive lending environment. Stealing a bit of David Letterman’s shtick, here are my top ten reasons to become a First Time Home Buyer in today’s Oregon real estate market:

Drum Roll…

10.  This is actually two in one. You get to tell your Landlord and the noisy neighbor upstairs to take a hike.

9.  There are several great financing options for The Oregon First-Time Home Buyer.

8.  As an Oregon First-Time Home Buyer you have many Foreclosures, HUD Homes, Handy Man Specials, Estate Sales, or Short Sales to choose from, some at a reduced price and that equals instant equity.

7.  Interest rates are near historical lows, another great benefit for First-Time Home Buyer.

6.  The $8000 First-Time Home Buyer income tax credit (no need to pay back as long as you live in the home for 3 years) and you qualify based on your income.

5) Seller’s all across Oregon are more willing than ever to give incentives for First-Time Home Buyer up to 6% in many cases. Buy down your interest rate and have lower payments. Additionally, Springfield still has SHOP money available to help with the down payment and closing costs for those that meet income requirements.

4. The Interest, Mortgage Insurance, & Property Taxes may all be written off on your income tax liability, thus reducing your overall tax liability. Check with a tax professional for your particular circumstances.

3. Oregon First-Time Home Buyer Opportunities are boundless with the higher Oregon FHA Limits for 2009. Lane County loan limit for a single family residence is $343,750. That means you can purchase a home up to $387,305 with only 3.5% down payment.

2. USDA Rural Guaranteed loans are available in most of the small towns and rural areas of Oregon. Creswell, Cottage Grove, Veneta, Junction City, Oakridge are all open for the USDA 100%, no money down financing.

And the #1 reason To Be A First-Time Home Buyer in 2009,

1. The investment is in yourself and may be your first step to wealth accumulation

There are Ten Great Reasons to buy a house in 2009.   Why aren’t you taking advantage of some or all of them?  Don’t wait many of these opportunities will disappear by the time that 2010 rolls around. If you are thinking that is your year to become a First-Time Home Buyer in Oregon, Call 541-342-7576 or email me or set up an appointment to see how you can become a First-Time Home Buyer today!

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