For the last two years everyone has been watching the market drop wondering if it is time to jump into the market. I believe we are at or near the bottom so now is the time to take advantage of the incredibly good market conditions today and buy. Let's take a look at the facts.

Inventory - There is a good supply of properties on the market. Many call it a buyers market when the inventory of homes and the absorption rate is greater than three months. In a buyers market sellers are more likely to accept low offers and make concessions on closing costs and the like to get their property sold.

There is also a good supply of short sales. Many home owners that bought their home in the height of the market are upside down. The only way they will be able to sell their homes is to ask their lender to accept a short payoff. This offers a great opportunity for buyers to get a good deal on a property. Short sales do take 60-120 days to complete so they are not for everyone.

Financing - Rates on residential mortgage loans remains below 6%. Rates don't generally stay this low for very long. Many mortgage professionals agree that these rates won't last forever. So, buyers would be wise to take advantage now before the rates start to rise.

Money is available for conventional, FHA and VA loans. All of these loans types require a good credit rating, verifiable income and some cash. The State of Florida has a few other options for "no money down" mortgages throught the Florida First Program. Contact me if you would like some more details.

Inflation - Many economists predict that the circulation of all the bail out money will cause a period of inflation. Those that own homes today will benefit from the rising home values that are expected to go along with inflation.

First Time Buyer Tax Credit - The federal government is offering a $8,000 tax credit for first time buyers and those that have not owned a primary home in the last three years. How does this work? The home must be purchased by the end of 2009. You will take advantage of the credit when you file your taxes. If you do not owe any money to Uncle Sam then you will get a cash refund for the credit. This is an unprecedented benefit from the Federal Government that we may never see again.

All of these factors make this one of the best buyers market in recent years. So good that people will look back at this time period and wish that they had bought a home. If you or anyone you know would like more information on buying or selling a home in Niceville, Destin or Crestview, feel free to contact me.

Judy Griffin, Realtor, Realtor

Pelican Real Estate

850-685-8595 direct

www.EmeraldCoastFloridaHomes.com

judy.griffin@cox.net