housing market has buyers in a great position

The housing market has buyers in a great position. Indications are that the time to finally make the move is here.
Sales numbers for many offices are up. The spring market has seen the ice thaw and also warmed up the buyers as well. Many brokerages have reported increases in sales numbers. We have actually seen a few homes sell within a couple of weeks and even a few sell in "dual bid" situations. While the overall numbers are not what they were two or three years ago, there are a few indications that the housing market is trying to stabilize. It looks like it's time for buyers to make their move.
The Illinois Association of Realtors' most recent report indicated that the total sales of Illinois homes was up 15.1 percent in February over January's sales. Overall, this number is still lower than the 2007 February ones. However, in February 2008 the median home sale price for the Chicago area was up ever so slightly over the February '07 numbers.
Locally, the Mainstreet Organization for Realtors indicates that average area sale prices are up, and in some cases, by double digits.
Overall interest rates are about 6 percent, and lenders have many programs available. In addition, Federal National Mortgage Association and Federal Home Loan Mortgage Corporation offer affordable housing programs such as "my community" and "home possible," which allow people with less-than-perfect credit an opportunity to buy at an affordable rate.
There are more homes on the market now than at any time in the last several years. That means there are more homes for purchasers to view and compare. With less competition from other buyers and more and better inventory to choose, this is a great time to take a look at what's on the market.
Sellers have learned to price their properties more realistically right from the start. These sellers also have spent additional time and resources maintaining their property and making it more presentable to buyers. This includes everything from new paint and flooring to entire kitchen remodeling. As a result, there are great "values" in the market. The clean homes that are priced right sell fairly quickly.
Over time real estate always has been a good investment. Low interest rates, a good inventory of well-priced and well-maintained homes combined with an overall increase in value means the time has never been better for buyers to break the rental chains or trade up to their dream home.