I attended a seminar yesterday and got the reinforcement that this is a great time for first time home buyers. There is a new bond issue coming on August 25th. 6.11% interest rate on their 30 year loan. There is also the potential for 100% financing if needed with this bond issue.
Then there is the $8,000 tax rebate on first time home buyer purchases. Be aware, it ends November 30th.
If you know someone who has not owned a home, or who has not owned a principal residence in the last 3 years, you can help them by having them contact me.
I also have a mortgage company who has 100% financing for any home buyer, first time or not.