by Lynn Nadler

In case you haven't heard----the housing market has slowed down again!! So what does that mean for the savvy buyer?  It means that now is an even more favorable time to buy a home!

For buyers, one of the most important housing statistics today is that homes have never been more affordable!  At the height of the real estate market the median mortgage payment as a percentage of median household income was as high as 25% and now with home prices falling as much as they have, that percentage has fallen to less than 15% of income!  It can't get much better than that!

Many buyer think they "missed out" when they didn't take advantage of the $8,000 tax credit but Doug Duncan, Fannie Mae's chief economist states that "At today's rock bottom rates, buyers stand to save $8,000 many times over during the course of a 30-year mortgage".

So, the bottom line is--rates are great, prices are down, don't wait--call a Realtor today!