First-Time Home Buyers Flood Yakima Real Estate

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Story Published: Oct 29, 2009 at 6:25 PM PDT

By Ryan Simms

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YAKIMA -- It's been a saving grace for people who have dreamed of owning a home, and now the First Time Home Buyer's Tax Credit could be extended for several more months.

Yakima's strong housing market convinced Tyler Scheuerman to start looking, and an $8,000 tax credit convinced him to commit.

"I signed the papers today, and I'm ready to move in tomorrow," he tells Action News.

With the simple stroke of a pen, Scheuerman is taking advantage of the government's first-time home buyer program, which could be extended until April. In the process, local mortgage bankers are keeping busy.

Scheuerman waited five weeks before he could sign the papers to his home, but according to mortgage banker Heather Lee, the end result is worth the wait.

"It gets you in your home, as well as give you the money to put into your savings account," she says.

Lee is now bracing for another boom in buyers, as well as another great season for the Yakima housing market.

"Our housing market is very strong," Lee says. "At one point we were ranked fifth in the country, so we've always been good with our appreciated values."

With each tax credit worth $8,000 , more than a million dollars has been injected into the Yakima economy by new homeowners. In turn, an extension could be the ticket to a stronger overall economy for Yakima.

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