I  Affordability is better than ever- Since the 1970s homes have never been more affordable as measured by the affordability index.  The affordability index is a measure of the relationship between mortgage interest rates, home prices and family income.

II. There is a much larger inventory now than there will be later this year.  The tax credit is helping to drive the market right now and more sellers are trying to get their homes on the market in order to take advantage of the credit before it expires April 30th, 2010.  Not all areas of the country still have good inventory like we do in North Florida, the Beaches and the Jacksonville and Jacksonville Beach, Atlantic Beach, Neptune Beach and Ponte Vedra Beach Florida area.

III. You could possibly be competing with more buyers next year. Right now sellers with homes that didn’t sell last year are putting their homes on the market again and are anxious to sell.   You could get a better deal this year than last year.

IV. New homes builders are giving discounts that are unbelievable! Be sure to have your pre-approval letter for your mortgage in hand when you talk to the builders and by all means negotiate for anything you want before you buy.  If you don’t get what you want, walk away and give them a chance to call you back.  I recently found one builder that will pay the Home Owners Association dues for five years!

V. Mortgage rates are historically low! These are the best rates we’ve seen in thirty years.  For example, FHA and VA rates for a 30-year fixed rate loan on February 19, 2010 were at 4.875% per one mortgage company’s web site!

VI. The feds raised their interest rate on emergency funds for each other last week.  Although there was no increase in the interest rate charged to the public, one strategist said, “the market is taking this as a tightening.”  Additionally this was the Fed’s first rate move on anything since December 2008!

VII.  The First Time Home Buyer Tax Credit and Move UP Buyer Tax Credit will expire on April 30, 2010. To get this credit one must have a contract signed and set-up to close before June 30, 2010.  So give me a call right away at 904-233-1341 if you have been planning to buy a home or send me a quick email to get moving with your home purchase.

All residential and single family homes on the MLS can be accessed at my web site www.FindaPlaceWithStyleNgrace. com.  Go to the Property Search Page.

Let me know how I can help you get moving with your home purchase.  My email: gracehughesjax@gmail.com