National Association of Realtors has posted huge declines today regarding the median home price nationally.  The good news is that in Madison we have only dropped 1.6% from $226,140 to $222,500 in the 4th Quarter comparing 2007 and 2008 respectively.  Nationally the median price dropped from $205,700 to $180,100 or 12.4%.  Where is the bottom then for Madison?  Often times I will tell a client that predicting the bottom is useless.  By the time the bottom has truly hit, you missed it.

With rates now hovering at 5% and the stimulous package (not yet passed mind you) offering a $15,000 tax credit to any and all buyers the spring market looks to be a great time to buy!  What are your thoughts?  Are you looking to buy in Madison over the next year?  Have you been waiting to see if the market bottoms out?  Are you tired of seeing your landlord profit off of your monthly payments?  Do interest rates need to be even lower to inspire you?  Are you waiting for the stimulous package to hit Obama’s desk for the John Hancock? STOP WAITING!!!

Get creative, you are not just buying a home for a tax credit!  You are buying a solid investment in your future.  There are no guarantees, but if you have been waiting to get in there are ways to ensure a safe and reliable investment!  Try to put 20% down.  For my parent’s generation it was unheard of to buy a home with less and interest rates were sky high!  Buy the interest rate down.  Did you know you can save over $100 a month if you pay a “point” on your mortgage? (A point is 1% of the loan value so if you are looking to buy a $200,000 home the point would cost you $2000, but your payment on a 5% vs. a 4% 30 year fixed mortgage is $120 a month savings!) You might even be a ble to ask a seller to buy your rate down and pay closing costs.  Huge savings up front!

Awesome time to get in and lots of programs to help.  Give us a call today and let us know how we can help

Forward Realty Group sells real estate in the Madison, WI area. http://mgladue1.topproducerwebsite.com/search-for-homes.asp to find your next home!