http://realtytimes.com/rtpages/20090407_realestateoutlook.htm
 
"To put it bluntly: Median priced houses haven't been more affordable to more households in decades! "
"Mortgage rates continued to drop last week -- even from the record lows the week before, according to the Mortgage Bankers Association. Thirty year rates now average just 4.6 percent and 15-year fixed loans average 4.45 percent with about a point. "
 
http://www.nytimes.com/2009/04/07/business/economy/07credit.html?_r=2
 
"Home buyers are seeing some benefits of the credit thaw. Interest rates on a fixed 30-year mortgage fell to 4.61 percent for the week ending March 27, the Mortgage Bankers Association reported, their lowest levels on record. Last year, before the government and central bankers intervened to lower borrowing costs, mortgage rates were more than 6 percent."

http://realtytimes.com/rtpages/20090317_realestateoutlook.htm
"Why's this important? New financing applications to buy homes obviously point to rising purchase contracts and closed sales in the months ahead. They also suggest that prices have hit a level in many markets that is attracting once-hesitant buyers off the sidelines.
There's still another factor that's likely at work here as well: Congress's recent improvements to the home purchase tax credit -- pushing it to $8,000 from $7,500 and making it non-repayable."
 
http://www.bloomberg.com/apps/news?pid=20601087&sid=abzZrsUa2fUE&refer=home

http://www.nytimes.com/2009/03/05/your-money/mortgages/05housingprimer.html?em
 
 

http://realtytimes.com/rtpages/20090310_realestateoutlook.htm
 
"Let's start with housing affordability. What will ultimately get the turnaround ball rolling will be the ability of ordinary consumers, in large numbers, to afford to buy a home with their current incomes at current mortgage rates.
And right now, the affordability equation is at its most favorable point in decades."

http://realtytimes.com/rtpages/20090304_homebuyer.htm
This lays it all out in bite sized pieces.
 
 

http://www.nytimes.com/2009/03/01/realestate/01Mort.html?em
This is becoming more and more of an issue.  Call Rob Slifer to talk to a person about it if you're in the market now!
 
Rob Slifer
212-582-5222
r.slifer@easternbk.com

http://rismedia.com/2009-02-16/are-lower-mortgage-rates-working-for-some-yes-for-others-no/
Crux of problem:
"...many of those who want to refinance and take advantage of the lower-rate mortgages are being turned down, especially if they purchased at the height of the housing market run-up. For these home owners, appraisals for their new loans often show home values that have dropped from the original selling price."
 
http://www.observer.com/2009/real-estate/perception-realty
http://rismedia.com/2009-02-17/will-the-stimulus-benefit-homeowners-and-buyers/
http://www.nytimes.com/2009/02/16/nyregion/16york.html?_r=1&pagewanted=all
“New York City isn’t like Elkhart, Ind.,” Ms. O’Cleireacain said, referring to a city that President Obama visited last week, one that largely depends on a single industry, recreational-vehicle manufacturing, and where unemployment has soared to 15 percent. New York, she said, “is a magnet for talent: for smart, enterprising, ambitious, innovative people, not only from this country but from around the world. Everyone wants to be here, and I think that sets us apart from virtually any other city.”

http://realtytimes.com/rtpages/20090213_buynow.htm
 
Highlights:
1. Save EVERY MONTH for your downpayment, and to prove to yourself you can make the mortgage payments.  Borrow 10-20% less than what the bank is willing to lend you. 
2. Owning a home becomes part of your investment portfolio, provides tax benefits, allows you to build equity (it still exists), and, if you buy now, you may get an excellent deal.
3. If you are planning to move within a year, buying may not be the best option because of the expenses associated with moving. However, if you're searching for a place to live for, at least, several years, buying now could be a good choice for you.
4. Don't get caught up in buying too much home. In fact, these days, the trend is moving toward smaller homes -- simpler living.
5. Good credit, documenting your income, and a substantial down payment will make you a better candidate for the better mortgage rates.
6. The market time to sell a home has increased which creates a large inventory of homes, everything including new, existing, and foreclosures.
7. Tax credit benefit. Last summer, the federal government started providing up to a $7,500 tax credit to buyers who have not owned a home in at least three years; the tax credit must be repaid within 15 years. The Senate, as part of a stimulus package, this month approved a temporary new tax credit to be applied to homebuyers' tax bills. The credit would give buyers 10 percent of the purchase price of any home, up to $15,000.

http://www.nypost.com/seven/02122009/realestate/the_deal_hunters_154696.htm
The seller (in this part of the story) was taking a while to negotiate...bad move.
"This was right when the Fannie Mae [and] Freddie Mac thing was happening," says Chaobal. "I said, 'Have you not been reading the news? That's not my offer anymore.' "
The time is NOW for buyers to negotiate!