Last Tuesday the government announced an $800 stimulus plan for the credit markets. Some $500 million will be spent buying mortgage-backed securities guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae in an effort to push down mortgage rates.

The best time to buy in any market is when it is down (a buyers market) and the circumstances for you are right. This is a prime time for a buyer with good credit and/or a good down payment to buy a house in the greater Lansing real estate market. Right now inventories remain high and prices have fallen over the past 2 years. And mortgage interest rates continue at all time lows, with rates dropping under 6% yesterday for typical 30-year fixed loan. The first time home buyers credit of $7500 will be ending on 7/1/09. There has never been a value to “waiting” in real estate, especially now. If you have been thing about buying a home, now’s the time to make your move.

Real estate is first and foremost an investment. And like investments will sometimes perform well and sometimes not. However for those looking long term, it has almost always performed well. The key is buying with the intention to hold long term. Property ownership equity accounts for more than half the wealth in the United States. It is never a bad time to buy real estate. Start your search for homes here.

Mike Bowler Sr. ePRO, CRB, GRI, SRES
Coldwell Banker Hubbell Briarwood
1020 S. Creyts Road, Lansing, MI 48917
Phone: 517-492-3400 Fax: 888-832-6203
email: Mike@MikeBowler.com 
Website for Clients: MikeBowler.com
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