It's a great time to buy in the Washington DC area!!!  And below are the reasons why:

• Washington, DC area homes continue to appreciate 4-6% per year, building future equity.  This is not the case in other parts of the country; great time to invest! 
• Foreclosures and bank-owned properties provide buyers with a very unique opportunity to buy a home well below market value; great time to have instant equity!
• Because of the changed market, there are fewer competitive multiple contract situations; better chance of making a realistic offer!
• Interest rates remain low unlike back in the 1980s; it's a great time to buy!
• The Housing and Economic Recovery Act of 2008 provides a tax credit for first-time homebuyers; giving you a tax credit!
• First-time homebuyers can borrow funds from their 401K/retirement accounts towards the purchase of a home; borrow with no penalty!
• As a homeowner, you will bring more $$$ in your paycheck because you can change your withholdings now that you can write off the interest on your mortgage; affording you greater buying power!
• Home buyers can also take advantage of the Homestead Tax Credit as another home buying assistance tool; lowering property taxes!
• There are numerous first-time homebuyer mortgage loan programs available, which can also help with closing costs; more assistance!
• There is an ~300% rise in active listings for buyers to choose from, affording a buyer to find their home of choice; better choices!