"Homes sold in 2008 were lower than the previous year, and the average sales price dipped a bit, but overall the local story was better than the national headlines would lead you to believe," said Gary Parsons, president of the Columbus Board of REALTORS®. "Yes, 2008 was a challenging year, but when you compare a 5% average price drop to other parts of the country, not to mention Ohio, it’s clear why Columbus is consistently considered a stable market," Parsons said.

"The declining inventory of homes, coupled with historically-low mortgage interest rates should prompt home price increases in 2009," Parsons added. "There’s a reason we’re telling our clients that now is a great time to buy is because the ability of buyers to stretch their housing dollar probably couldn’t get much better."  (source: Columbus Board of Realtors®)

The days of Zero Down Mortgages are long gone. It is still possible to purchase with 3.5% down using an FHA Loan program.  There is also down payment assistance being offered by OHFA for qualified first time Buyers.  Beyond these options, many Buyers will find that they will need 10% to 20% down in order to purchase a home or condominium.  How to make the personal adjustments necessary to begin saving?  Here is an article with some helpful tips.  Let me know if you have any other good ideas on saving!

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Stimulating! First-time home buyers could claim an $8,000 credit for homes bought by December 1st!
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