Fast Facts - Week of June 22, 2009

Calif. median home price - April 09: $256,700 (Source: C.A.R.)
Calif. highest median home price by C.A.R. region April 09: Santa Barbara So. Coast $840,000 (Source: C.A.R.)
Calif. lowest median home price by C.A.R. region April 09: High Desert $106,530 (Source: C.A.R.)
Calif. First-time Buyer Affordability Index - First Quarter 2009: 69 percent (Source: C.A.R.)
Mortgage rates - week ending 6/18/09 30-yr. fixed: 5.38% Fees/points: 0.7% 15-yr. fixed: 4.89% Fees/points: 0.7% 1-yr. adjustable: 4.95% Fees/points: 0.6% (Source: Freddie Mac)

Plumas County Welcome!

Spring thaw is on in the Northern Sierra! It’s time to enjoy Mother Nature’s next act, as vibrant wildflowers and cascading waterfalls illuminate the forest landscape. Find the best spots for spring color and flows and add your favorites to the Bloom Blog.

Dig out your fishing and camping gear, dust off your bike, and grab your kayak, it’s time to get outdoors. Streams open soon for anglers, and it’s also prime season for birding as hundreds of species return to nest. Have your cameras ready for some special train viewing opportunities!

Explore the woods on a hiking trail you’ll likely have to yourself. Golfers can take advantage of mild temperatures and low-season rates at challenging mountain courses.

Spring brings on craft fairs, bike rides, Art Walks, tastings, and host of other small-town fun. Family-run lodges, restaurants and unique shops will welcome you!

For more information, go to the official Plumas County Visitors Bureau website at www.plumascounty.org or call them at (800) 326-2247.

Tax Credit - Can Be Used For Down Payment Assistance

Qualified, first-time home buyers using a Federal Housing Administration (FHA)-insured mortgage now can apply the $8,000 federal tax credit toward their down payments, the Dept. of Housing and Urban Development (HUD) announced today.

Currently, borrowers applying for an FHA-insured mortgage are required to issue minimum down payments of 3.5 percent. Previously, FHA-approved lenders were not allowed to monetize the tax credit as part of the 3.5 percent; however, under the new guidelines announced this afternoon, borrowers now can use the tax credit as additional down payment, or for other closing costs.

For more information, please visit: http://www.hud.gov/news/release.cfm?content=pr09-072.cfm