It's an interesting time to be shopping for a new home. First-time home buyers will have the benefit of not having to sell a home in a down market in order to buy their new home. Current homeowners will have a slightly more difficult time, as they will be receiving less value from their home than they originally expected, but will also be able to get into a new home for less than expected. Find a good real estate agent, and they will go a long way toward steering you through the potential minefield of the modern housing market. Your real estate agent may also be able to put you in touch with a good mortgage broker. You'll be enjoying your new house before you know it!
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Property Values

In this down real estate market, you can buy choose a distressed property and save thousands. Boasting a large inventory, the distressed property marketplace offers home that may best fit your budget. Some are in good shape; others require fixes and repairs.

To lure potential buyers, banks are lowering their asking prices. Decimated markets in California, Florida, and Nevada even offer great bargains in affluent neighborhoods. If you have enough cash ready and a good credit rating, a great deal could be yours. Some long-vacant homes just need minor repairs and yard work, so be prepared to roll up your sleeves and make any needed repairs.