Ed Pichette / RE/MAX South Shore Realty

Are you familiar with the Idiom You Snooze, You Loose? You most probably have herd or will hear this term more than once in your lifetime. My use of the term here means that if you let yourself get distracted from buying a home today you are going to kick yourself in the butt tomorrow for not taking advantage of today's housing market. Home prices are at an all time low, mortgage interest rates at an all time low, and the government wants to give you money, $6,500 and $8,000 tax credit for buying a home. If you snooze to long, home prices are going to go up, (in some market areas they already have); interest rates up, (expect mortgage rates to rise. A government effort to keep rates low ends soon, and the market will sink or swim on its own) and the government $6,500 and $8,000 tax credit program ends, (which by the way is April 30, 2010). When is a great time to buy a home? Today!

Let's look at the facts. The average sales price of a home in Hillsborough County Florida in October 2005 was $269,403. Today the average sales price is $156,775. Down a $112,628. Mortgage rates were at 5.66% (30 year fixed rate) in October 2005, today they are at 5.03%. This is about a $63. savings a month on a $100,000 loan. Free money, $8,000 tax credit for first time buyers or $6,500 if you lived in your home over 5 years. OK, so what's everybody waiting for? You remember the saying, "You snooze you loose"?

Fall is just around the corner with cooler weather and leaves changing, but the housing market is heating things back up with great prices and lower interest rates. When is a great time to buy, NOW!. I would hate to see a lot of people kick themselves in the butt because they didn't take advantage of today's buyers market. Builders, sellers and banks are wooing buyers to come on out and see what great deals they have to offer you! Best yet, the Federal Government is offering a $8,000 tax credit for first time buyers up to Dec 1, 2009, You remember the old saying you snooze you loose. Well don't let this happen to you!

RE/MAX International is running a TV ad showing buyers kicking themselves in the butt because they didn't take advantage of the real estate market when things were great.

If you are waiting for the housing market to bottom out you are already to late. Mortgage rates are on the rise as well as the Stock Market and Gas Prices. The Fed is worried about inflation which is not a good sign for interest rates.

Now is the time to buy. Interest rates and home prices are still at an all time low. The Fed is giving first time home buyers a $8,000 tax credit. Which by the way ends Dec 1, 2009. So what are you waiting for? I'd hate to see a lot of people kicking themselves in the butt because they didn't take advantage of todays real estate market.

I am starting to see light at the end of the real estate tunnel. Our office sales are up over 300% for Feb 2009 comparable with Feb 2008. A definite increase in new home sales, banked owned and short sales. We have listings with multiple offers. One REO had over 15 offers. Our agents are working hard and loving it. I see a fantastic Spring and Summer buying season. If the stimulus plan does what it is supposed to do things should be wonderful all over. I'm ready to break our in a chorus of Zippity Doo Dah ZippityAy My oh my. What a wonderful day...