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New income limits for the USDA Guaranteed Rural Housing Program went into effect on April 20th. This includes an increase in the income limits nationwide, as well as the implementation of the new “2-Tier” income limit structure, which will simplify program requirements and the qualification process. Previously, income limits for many counties, including Cumberland & York Counties, depended on the number of persons. There was a different income level for each additional person. The new structure only has two income levels (1-4 persons and 5-8 persons). This increases the maximum income level for most families. Cumberland & York County: $73,600 for 1-4 person household $97,150 for 5-8 person household Portland Metro: $83,250 for 1-4 person household $109,900 for 5-8 person household This is great news for many buyers! Here is the link to look up the Rural Development income limits for your area.

President Obama's "Stimulus Bill" (The American Recovery and Reinvestment Act of 2009), which was signed on February 17, 2009, made significant changes to the energy efficiency tax credits. These changes apply to products "placed in service" in 2009. The highlights are: The tax credits that were previously effective for 2009 have been extended to 2010 as well. The tax credit has been raised from 10% to 30%. The tax credits that were for a specific dollar amount (i.e. $300 for a CAC), have been converted to 30% of the cost. The maximum credit has been raised from $500 to $1,500 total for the two year period (2009-2010). However, some improvements such as geothermal heat pumps, solar water heaters, and solar panels are not subject to the $1,500 maximum. The $200 cap on windows has been removed, but the requirements for windows has been increased significantly. Keep in mind that not all ENERGY STAR qualified windows will qualify. Click here for more specific info

Determining whether or not you are ready to buy a house can be a daunting task. But, whether you are a renter or you are aiming to upgrade to a larger home, there are signs that will indicate whether you are ready to take the buying plunge. So are you ready to make the move? You might be if you: 1. Are familiar with the market. If you have been paying attention to how much houses are listed for in the neighborhoods you are interested in and have a realistic idea of how much a house will cost you, you're in good shape. But if you're dreaming about that big corner house with no clue about the asking price, you may want to spend some more time becoming familiar with the market. 2. Have the money for a down payment and closing costs. The down payment is a percentage of the value of the property. Typically, the percentage will be determined by the type of mortgage you select. Down payments usually range from 3 to 20 percent of the property value. You may also be required to have Pri