It's not often we read about good news in the media. Network and cable news know that bad news sells, so naturally the focus is violence, traffic accidents, falling stock prices, and toxic assets- bad news. While it is true our nation is experiencing a recession, there is still good news for all the bad- a side to every story.
For first time home buyers and investors the market is rich with opportunity, and there is an abundant supply of properties to choose from. Falling home prices are giving some people an opportunity at home ownership that would otherwise only exist in dreams. With the $8,000 tax credit that can now be applied towards the down payment or closing costs, the combination is almost too good to resist. Shopping for a new home can be like shopping at the $5 movie bin at Wal-Mart, or finding a "Blue Light" special. If homes were marketed like products in a store, there would be signs that read "50% off, Open Box Discount, Over-supply Sale, or Unclaimed Layaway Sale!"
Link to the silver lining article for first time home buyers:
Jared Hammond, Realtor