CNN Money featured a great article yesterday about home buying for those who are on the fence out there. I'll post the link at the bottom....

Amanda Gengler hit the nail on the head when she stated that #1: You simply cannot time the bottom.  Fact is even if you could buy the same house a few thousand cheaper in 6 months but rates climb you do not gain anything and likely end up losing.

In fact, talking with some agents in the Cincinnati Ohio market as an example, they are noticing significant improvement in marketing time in several parts of the metro area.  Many more listings are pending in less than 30 days over the last few weeks.  For Cincinnati in general, the bottom may have already been reached.  I'll be curious to see when some new sales figures come out for May there. 

Amanda goes on to point out what many of us have been saying all along "...fixed mortgages don't directly follow the Fed"  (Thank you Amanda)  I get so tired of these idiotic cartoon banner ads all over the web with teasers for 4% loans.  The fact is rates in the low 6's are still near historic lows and many economists voice the opinion this may not continue regardless of what the Fed does going forward.

Here is the link: http://money.cnn.com/2008/05/01/real_estate/new_rules.moneymag/index.htm?postversion=2008051213

Thanks for reading

Kevin