This morning Jay got up bright and early to run to Staples. He got there a few minutes before the opening of the highly anticipated Black Friday sale. There were people waiting in line and the shopping scene was one of controlled determination. The shoppers had a mission and the “deals’ were fantastic. When Jay told me about his novice Black Friday shopping experience I couldn’t help but make a comparison to real estate. Here we are in the midst of one of the best home shopping markets in many-many years…yet no one is lining up.

There is plenty to choose from that’s for sure

Home inventory is way up with bank owned properties just dominating the market…yeah, there are a lot of bank owned (REO) properties out there that are pure junk but those can be picked up for a steal. Actually most REO properties can be stolen this time of year. So here we are…conditions are ripe with 30 year fixed rate mortgage programs near 5.5% with no-points. Down payment funds can be gifted and there is a $7,500 tax credit to take advantage of with your 2008 tax returns.

Conditions are ripe

Yet the buyers are still hanging back, waiting…consumer confidence is still down and I think buyers are waiting for the market to drop further. Will it? Who knows and who knows how much if it does. My theory is if you’re renting now…you’re just helping to pay off someone else’s mortgage and with the property discounts available during our current Black Friday NH real estate market conditions…you’d be crazy not to take advantage of it. If you’re gainfully employed and have a credit score of at least 580 or better and want to own your own home conditions are ripe. Come and see for yourself…you could be in your own home by the end of the year.