Interest rates at 38 year low!
Typically interest rates and home prices are not at the same level....
Interest low, home prices high.
NOT now... Right now there are many great opportunities for the first time buyers with low interest and many great homes at phenomenol prices, add to that the first time buyer incentive of up to $8000 tax credit. Most people are not aware that you can file an amended return and claim that money this year!
No one knows what tomorrow will bring, but if you are waiting for the market to hit bottom, there are many industry experts who believe that ship has sailed, and we are on our way up, if this is true we can anticipate that interest rates will begin to climb in the near future.