First of all I have to give a praise to my lender buddy who has been on the money again with his prediction about the rates and the cut. He also mentions that the interest rates were already beginning to trade at lower rates in anticipation of these rate cuts. And that the rate cuts do help but not much. On the other hand he does say he is seeing more loan options available to a broader array of consumers.

Anyway, what do you think? Are the rate cuts actually helping our industry? Or are they simply band aids on a gaping wound?

Personally, I am considering buying a home and I cannot believe how low prices are and how low interest rates have gone down. This is a great time to buy. If you do not agree that's fine, but, I would disagree because of the opportunity for appreciation in the future. And the fact that this is when money is made when buying Real Estate. How can I say this? I say this with confidence because making money in Real Estate and stocks for that matter is made when you buy low and sell high. And I do not believe that the market will go much lower for too much longer. I feel that this cycle is near at its climax and the next cycle will be another surge in Real Estate appreciation. And I am confident that buying a home now will be a great investment for the future.

As for my naysayers, and doom and gloom filibusters who will tell me that I should not say its a great time to buy. When is the best time to buy then? Would it have been a few years ago when everyone who had a pulse could get a loan? And that you most likely overpaid for your home? Or, that I might realize a loss in appreciation due to the fact that I overpaid? Or is it best to buy high and sell low? In my opinion the recent boom actually seemed more like a bust or a quick bang. Unfortunately the recent boom left many people overextended with their finances and even worse, homeless looking for another place to live. Is that what we call a boom? I would hope not. While this did make some people a lot of money, it hurt twice as many in the long run.

So in closing, I believe that the rate cuts will help out a few smart, qualified buyers who realize the benefits of buying a home in this market. For those that see the glass half full and can imagine a better tomorrow will take advantage of this type of cycle. I only hope that more REALTORS® will educate and inform consumers so that they understand that this is still a great time to buy. Remember, Real Estate is a long term investment, and if you have owned your property for 10 years or longer than your still ahead of the game. That is if you haven't used your home as an ATM machine and taken all your equity out of your home.