It's critical to to carefully plan, before you even go house hunting, in a buyers market. Establish your "needs," focus on what you truly have to have as a minium; such as number of room, size of home in precise square foot area, how many baths, and what neighborhood's in which 2 or 3 communities.
Next to this list add some "extras of what you would like without fracturing the long term, over the years, budget.
Don't expect a bargain. A good house, well maintained, in a good neighborhood of a fine community will not go for a rock bottom price. EVEN IN A BUYERS MARKET.
Yes, you are seeing a great number of foreclosures. However, what is their condition? Plan, Plan your house buying plan long before you call agent or strart to troll on the Internet.
Set you financial limit firmly and KEEP to that number. Don't even look at anything outside of your price range.
Constantly study the market. Drive the knighthoods you are interested in and do it during the day and especially at night and weekends.
Think carefully and know that the cost of heating fuel, real estate taxes, the cost of water and sewer, the cost of insurance will rise, and rise. It isn't all in the interest rate.
Look at a house and study the long term, five and ten year cost of ALL physical replacements. Frances, boilers, hot water heaters, roofs and the like have a limited functional economic life span.
Carefully study the school systems and test drive the daily commute. Gasoline isn't going to go down.,
As I previously stated first try to calm down emotionalism and they plan well and wisely.
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