Time for first time homebuyers

Now May Be the Best Time for First Time Homebuyers

"If you've been watching for the fleeting, best time to buy a home,

this fall & winter may be it, especially if you're a first-timer.

There are signs that things are starting to stabilize. Pair that with

limited-time-only offers from the government, and this fall's

market looks awfully tempting for buyers.

The Federal Housing Administration recently boosted its loan

limits in expensive areas such as Washington, but it's going to

take some of that back come Jan. 1, when the loan limit will

shrink back down. If you're going to need a FHA mortgage

start touringhomes now, and make sure to close

by the end of the year.

Keep an eye on the expiration date for the new

close on the home no later than June 30, 2009.

That may seem like a long way off, but it will loom larger

come spring, traditionally

the busiest time for real estate sales."