March is generally not only the month of NCAA basketball, but of increasing real estate activity as well.  This year has been no different.  There is ample evidence that conditions are very good for home buyers and sellers.

Fact #1:  Interest rates nationally are at the LOWEST LEVEL EVER.  Thirty-year fixed-rate mortgages with no points at 4.85% are outstanding.

Fact #2: Mortgage money is available to qualified buyers with good credit scores.

Fact #3: Tax credits of up to $8000 are available for people who have not owned a home for the last three years.

Fact #4: Down payments as little as 3.5% (FHA) are possible.

Fact #5: Inventories of unsold homes in Somerset County, NJ, while not at the historic highest, are still substantial, affording buyers a good selection.

Fact #6: It is unlikely that home prices in Somerset County will decline further in the foreseeable future.

So, what should people be doing about all this?  First of all, prospective buyers should get pre-approved for a mortgage.  Contact a lending institution - if you don't have one in mind, contact me so that I can recommend one.  It may take longer these days to get a true pre-approval (7-10 days), but not only does getting a pre-approval make you a stronger buyer in the eyes of a seller, doing so also flags any blemishes on your qualifications that can be removed before you get too deeply into the purchase process.

Secondly, after obtaining a pre-approval subject to selection of a home and a purchase contract, familiarize yourself with the areas you want to concentrate your search in.  The Internet is useful for the early stages.

Finally, once you have narrowed down the areas you want to live in, contact a Realtor® to help you find the property you want.  You need someone who not only has extensive experience and skill, but someone who knows the market.  Does someone come to mind?