Arizona Bank Owned Homes – First Time Home Buyer There may never be a better time for First Time Home Buyers to purchase a home than now. Because of the large inventory of bank owned foreclosure homes for sale in Arizona at the most affordable prices for years. With financing programs that require less money to get into a home than conventional financing such as FHA loans (loan amount $346,250 in Maricopa County) If you are a first time homebuyer looking to buy a bank owned auction foreclosure you may want to take a serious look at buying a home NOW! In addition to the popularity and increase in the amount of FHA Arizona bank owned foreclosure loans and the affordable real estate market, there are also other incentives for Arizona First Time HomeBuyers to purchase a home like the tax credit proposed in the stimulus package. The $790 billion stimulus package hammered out by House and Senate late yesterday increases the home buyer tax credit From $7,500 to $8,000 and eliminated the repayment feature for buyers who hold on to their property for at least three years. The three-year minimum holding period is a safeguard against speculators' use of the credit. The legislation has also extended the effective date of the credit to December 1 from June 30. This credit is available only to first-time buyers (those who haven't owned in at least three years) and some income eligibility restrictions apply, but those are unchanged from the existing program. Couple the attraction of FHA loans, the tax credit, and the state of the bank owned foreclosure homes in the greater Phoenix Real Estate Market it may be a very wise time for first time home buyers to seize the opportunity while it is here. Blueroof.com has assisted in the development of a new website www.evancarr.com to Find Arizona bank owned foreclosure homes, Phoenix bank owned homes or Phoenix real estate owned (REOs), via map search! Visit www.evancarr.com and Search for Scottsdale real estate, Scottsdale bank owned homes, Mesa homes for sale, Mesa bank owned homes, Gilbert REO, Gilbert bank owned homes, Chandler real estate, bank owned homes in Tempe, and Peoria bank owned homes for sale in the local MLS. The possibilities are endless! Get full details: property address, photos, property subdivision, property virtual tours, save your favorite properties, add your own notes to listings, create and save your own personal searches, keep track of properties you've viewed, receive automatic updates. ALL FOR FREE! Get immediate satellite view of properties, search by price, location, number of bedroom, year built, lot size, and more! If you prefer to just recieve instant updates on Arizona Bank Owned Homes, Bank foreclosures, bank auction homes, REO's, Arizona Foreclosure listings, then visit my website that will provide you with instant information. If you are looking to buy a bank owned home, bank foreclosure, bank home auction in Arizona, we want to provide you with the best inside information to buying a bank owned, bank foreclosure, bank auction home in Arizona!