Hi Neighbors,
Just a quick update. The California Association of Realtors posted it's 2nd quarter 2009 First Time Homebuyer affordability index. For California overall, 67% of households could afford to buy an entry level home. This is up from 49% a year ago. The estimated monthly payment including taxes and insurance is $1,330 for a median priced $224,180 home. The minimum houseold income was $39,930.
For Sacramento region the index was at 79% compared with 70% a year ago and 80% last quarter.
Again, good news for first time home buyers! Chances are good that you can qualify not only for that home, but also if you act quickly you can still apply for the $8,000 Federal Tax Credit for First Time Home Buyers.
More details on each area can be found here.
Enjoy,
Jeff
Neighborly Realty
http://EnglePropertiesOnline.com
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