Oregon Public Broadcasting

The Obama Administration says it may extend the $8000 tax credit for first-time homebuyers, according to the New York Times Tuesday.

That pleases real estate agents, who say the tax credit is helping create demand in the housing market.

Ethan Lindsey reports that’s not the only thing pushing home sales in central Oregon.

The number of Bend area homes in foreclosure continues to rise.

That’s not good news for those home owners, but real estate agents say it could help rationalize pricing in the area.

The number of foreclosure filings in Bend rose to 952 in the months of July, August, and September.

That’s the highest number yet -- more than 5 percent above the second quarter of this year. And a whopping 84 percent higher than the same period of time last year.

And yet, that’s good news for realtors. Foreclosures mean lower prices – and more motivated buyers.

During September, local real estate statistics show 173 homes were sold. Include the number of pending home sales, and the sales numbers were the best since the boom times.