Thursday, May 7, 2009

Housing Slump: First Time Buyers stand to benefit the most

Few months back people were caught between their modest salary and expensive real estate market making them wonder whether ever they would be able to afford a decent housing in their lifetime but situations have changed for better though some may not agree with me.

Real estate prices have nosedived and are as much as 40% lower than the skyrocket prices. Besides price drop, federal tax credits for first time home buyers are a big motivation. The good thing is it might serve as a motivation for 300,000 buyers who had been adopting a wait and watch policy or those who had already given up hope. The high rate of foreclosures have already given them a reason so celebrate as first time buyers get an opportunity to buy their dream home.

So if you are a first time buyer then this is the best time to go for your dream house!!

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