1. House prices have decreased considerably making a purchase for a buyer a bargain. 

2. Interest rates are low, low and, if the buyer thinks the offered rate is too high, can probably negotiate for a lower rate. This is true particularly if the buyer is looking at foreclosed property and has excellent credit plus a more than ample down payment.

3. Sellers who are looking to unload their expensive properties will be willing to negotiate with the buyer so as to shorten the sellers market time. Currently, inventories are extremely high (in otherwards, existing housing sales are almost standing still).

I reiterate, it is a buyer’s market. Maybe not for investment purposes but for purchasing your very first property to use as your residence (live in).
The one, especially, important fact to remember is that we all have to live somewhere, somehow and I happen to believe owning is now more of a bargain than renting.

Guide To Buying Your First House

How much rent do you pay? I will use $700.00/month as an example. In 10 years, you will have paid out $84,000 for rent and when you walk away, you will have nothing. Wouldn’t it be nice to walk away with some money?

The housing market has so much current opportunity. By opportunity, I mean a surplus of available for purchase homes, available money and great interest rates. This is a buyer’s market!

My advice is young people get started with home ownership while you are young. In future years, you will be able to upgrade to another house or walk away with some real money and will have provided yourself a place to live.

A realtor, I am acquainted with, has some wonderful statistics about the current housing market trends. Here is the url:
Current Market Statistics

In conclusion, first time home buyer’s take heed and get started before current conditions change! You have all the leverage, negotiating power.

You will need a great guide to assist you with your first house buying adventure: It is available by clicking here.