If you are a first-time Buyer now in the market looking for a home, it truly is a once-in-a-lifetime opportunity for you and you alone.
First, you have the $8000 tax incentive offered IF you are under contract by the end of April of this year, and you must close on your home by the end of June.
Secondly, interest rates being offered are at all time lows - under 6%, even under 5% in many instances... (Should I dare tell you that when my husband and I purchased our home in 1979 the interest rate was 17% - that's right, 17%...so, see what I mean by LOW!)
Third, sellers are pricing their property reasonably. They realize it is no longer the crazy market of two to three years ago, and in order to be competitive they are realistic. This is a benefit to you as the Buyer.
There is also a Fourth bonus - since the market has changed from a 'seller's market' to more of a 'buyer's market' at this moment in time, you are not facing quite so many multiple offers .. thus, your reasonable offer is more likely to be considered.
You only have a 'window of opportunity' for all of the above through March and April 2010, so get out there and beat the pavement to find your dream home.