MARYLAND HOME BUYERS ARE WATCHING AND WAITING FOR THE "BOTTOM" OF THE MARKET.

WHAT MARYLAND HOME BUYERS often overlook is the buying power of low interest rates.   Maryland real estate buyers are empowered by the very low interest rates offered today.  Mortgage interest rates are, indeed, at the lowest in many years. 

For a home loan of $350,000 @ 6.5% interest, the monthly mortgage payment would be about $2,212 plus 1/12 real estate taxes and hazard insurance.

For a home loan of $350,000 @ 5.0% interest, the monthly mortgage payment would be about $1,879 plus 1/12 real estate taxes and hazard insurance. 

That is the buying power of low interest rates.  More house for your money.  Or, less monthly payment for your home.

Interest rates for February 2009 are hovering right at 5% for FHA, VA loans.  Conventional loans for Maryland home buyers with down payments of 10%, 20%, and good credit scores are often as low as the 4.75% to 5% range.

HOW DO YOU KNOW WHEN THE TIME TO BUY IS HERE?  When you need a home and when experienced investor buyers are in the market. 

• Investor buyers are in the market now.
• Interest rates are at their lowest in memory.
• Inventory of homes for sale offers many choices.
• Prices are down in all Maryland market areas.

SOLD PRICES IN SOME MARYLAND COUNTIES FOR PAST 3 MONTHS.