Gap Between Owning and Renting is Lowest in 20 Years!

You heard right. According to the Associate Press, the gap between month rents and mortgage payments is at its lowest level since 1990. In some markets, the difference is less than $100 per month.

According to a study by Marcus & Millichap Real Estate Investment Services, the narrowing in the gap is attributed to years of falling home prices and low interest rates. It's the ultimate buyer's market!

$8000 Tax Credit Extended...for some There are new benefits for members of the military and certain other federal employees: Members of the military and certain other federal employees serving outside the U.S. have an extra year to buy a principal residence in the U.S. and qualify for the credit. Thus, an eligible taxpayer must buy, or enter into a binding contract to buy, a principal residence on or before April 30, 2011. If a binding contract is entered into by that date, the taxpayer has until June 30, 2011, to close on the purchase. Members of the uniformed services, members of the Foreign Service and employees of the intelligence community are eligible for this special rule. It applies to any individual (and, if married, the individual's spouse) who serves on qualified official extended duty service outside of the United States for at least 90 days during the period beginning after Dec. 31, 2008, and ending before May 1, 2010. ---Abundance Home Mortgage