Technically it is a great time to buy. Why?

Based on average selling price, the last time prices were this low? 1997.

Based on sales the last time sales were this low? 1997.

The last time the mortgage business was this crazy? 1997.

What happened after 1997? Eight years of growth. It is really that simple.

The fed will have to drop interest rates to the floor, historically rates are lower in December and January of every year. Look for a 30 year fixed rate mortgage in the mid to high 5% range.

Sellers need to be motivated. My house is for sale, in 2005 it would have easily sold for $215,000, and been a great buy. (interest rates were mid sixes) the same house can now be bought for $180,000. Difference in payment= $332.00

$4,000 a year after tax money. A 20% discount. On a move in condition house with $50,000 in upgrades over the last six years.