Is this a good time to buy a home?

I think this is absolutely the best time I can remember to buy a home.   Why do I say that?  

Interest Rates

Interest rates are great.  They are up about 1 point to a 1.5 points above their absolute lowest level.   When they were at that very lowest level there was a frenzy to purchase and so buyers were paying a premium for homes and not getting any concessions.   They got a slightly lower interest rate but more than made up for it in other costs. 

Builder Concessions

Some builders right now will pay your closing costs and throw in other concessions like a new fence, refrigerator or other upgrades at no cost to the buyer.   Some will even pay your mortgage for you for 6 months.   So right now you could move in a home with virtually no money out of your pocket and not have to start paying for your home until 2008.   This sounds like some furniture liquidation deal but it is really an inventory liquidation for builders so they can stop paying the bank interest. 

Resale Concessions

Home sellers know it is a tough market out there and are pricing their homes more competitively and are also willing to help with closing expenses and other costs. 

This situation will not last forever!

Housing starts have slowed considerably and at some point the slack will come out of the chain for the abundance of inventory.   Also at some point these interest rates will go up.  They have already begun to start up.  

Columbus Ga MLS or Find a Home at Fort Benning