as interest rates decline, buyers have more purchasing power and may be less apt to demand a continued trend in declining prices.  Conventional wisdom holds that a 1% decline in mortgage rates results in a 10% decline in price reduction to a buyer.  This could be just the medicine to hold the fragile stability the housing market is nearing.

Now is a great time to become an active buyer in the market.  The first critical step in this market is to get pre-approved for a mortgage.  Entering the market with an understanding of what is financially possible gives the buyer credibility to sellers and saves everyone a lot of grief down the line.  Start by checking credit history; underwriting standards are the toughest they have been in at least a decade.  Work to discover any incorrect or questionable items and repair these as soon as possible.  While it is a good idea to have 20% down, we are seeing some buyers qualify with less down.  Smart money is on making a smart buy.  Having knowledge specific to a neighborhood you are considering purchasing in is critical.  Our latest monthly reports are out.  High Forest Ranch is a great area of Black forest to consider.  There are currently 52 homes on the market in a wide price range.  For more information, check out our monthly report.