After all the dismal news the media is relaying about the state of the economy, I recently read an article that provides hope regarding the housing industry. It is definitely true, that if you have stable income, employment history and a decent credit score, now could possibly be the time for you to seriously consider purchasing a home. Never has there been a time where interest/mortgage rates have been low at the same time as low housing prices. Also, the $8,000 tax credit for First Time Home Buyers makes this an especially attractive time to invest. I know one of the questions that loom in people’s minds are “have the prices of homes hit bottom?” The true answer is, “I don’t know”. I do know that home prices haven’t been this low in a long time and my “prediction” is it should level out by the end of this year. Remember, Real Estate should be viewed as a LONG TERM investment. And if that is understood, the 25K - 50K it may drop, makes no significant difference.
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