Liane Jamason, REALTOR® ~ Tampa, FL ~ TampaRealEstateFinder.com

According to this video, the stats for November 2008 say that we are seeing a slow return of the real estate market. For buyers and investors who've been trying to time the market, now is the time to buy!

Increase in home sales is mainly due to improving affordability conditions.

Affordability index is up 17%.

Home Sales are up 1.4% from last year despite disruptions in the credit markets.

Mortgage rates remain low at around 6% and are expected to rise to 6.5% by the end of 2008 and hold at that level for most of 2009.

Inventory remains high at 9.9 months of supply.

We have seen 3 months of consecutive declines in inventory since the peak in June at 11 months.

Research findings: Housing bottom might be near – Market expected to stabilize in 2009.

Home sales expected to increase.

Home price declines expected to end.

Interest rates should remain stable at around 6 or 7 percent.

Source: Survey of 840 economists by the Keller Center for Real Estate Research at Baylor University

Sellers: Overpriced listings take longer to sell.

Each 10% listing price above the final sales price equals to 30 additional days (1 month) of marketing time.

Properties tend to sell faster when sold by firms affiliated with national franchises.

Larger homes tend to take longer to sell.

Source: Longwood University, Virginia

If you would like additional stats and trends for November 2008, feel free to email me at Liane@KW.com!

Have you been on the fence about whether now is the time to buy? Well a great opportunity has been given to first time home buyers that offers a way for you to own your own home. Read on for more about the $7500 tax credit for first time homebuyers!

The Housing and Economic Recovery Act Of 2008 is available to first time home buyers right now and will only last until July 1, 2009. This offer is good on any qualified purchase in Apollo Beach, Riverview, Gibsonton, Brandon, Lithia, Valrico, Tampa and beyond.

Homebuyer Tax Credit - a $7500 tax credit that would be would be available for any qualified purchase between April 9, 2008 and June 30, 2009. The credit is repayable over 15 years (making it, in effect, an interest free loan).

Some of my buyer customers recently have asked me, "What happens if we wait? Will the market continue to slow, and prices drop even further?" This page from Keller Williams explains what happens if you wait. Prices are extremely low and we are in a down market. Lucky for buyers, interest rates are as low as 5 and 6% right now too. Many people are scared due to the talks of banks failing, the government bailout and a general downturn in the economy. But I challenge you to look at these numbers and see if buying now doesn't make more sense than it ever has.

For investors, or people who plan to live in a home for at least two years, now is the time to buy. Even if the financial crisis continues, and banks fail, there will be only a few major banks issuing loans. Do you think they will keep loaning money at 5% if there is less competition? Certainly not. Many real estate professionals are predicting rates to jump to double digits over the next 2 years.

If you are thinking about buying....don't try to time the market or you may wait too long. Email me today and let me help you find your dream home in Tampa Bay, at a great price.

Liane Jamason, Realtor
Keller Williams Realty
http://www.MyWestFloridaHome.com