We are in a buyer's market! Interest rates are currently at historical lows and the market is flooded with new and existing properties to choose from. With a large inventory of available homes and foreclosure rates at an all time high, home prices across the country have dropped considerably.

Sellers are extremely motivated and eager to assist with many forms of concessions such as paying for upgrades to the home, paying the borrower's closing cost or other loan associated costs. Home builders are offering steep discounts and incentives as well.

Even though financing may be tighter than in recent years, there are still a variety of options out there. For example, FHA and VA, State and Local Bond programs require minimal down payments and several are specifically tailored to first time homebuyers.

Now is the time to buy! The housing market is cyclical and will eventually rebound. With interest rates as low as they were 50 years ago, combined with price reductions and other incentives, buying a home today is the investment of a lifetime.