Let's talk real estate

    Affordability for a home has never been this high. In relationship to income, housing is the cheapest it has ever been. The fact that prices might still go down kind of means nothing to the person who is going to live in a home for quite a long time, partly because the interest rates are historically low.

    I think buying a home now is a very bright decision. There is a very good inventory to choose from in most any price range. With the low interest rates you can buy more house with your income than ever before.

    Will the price of homes go down? I say, "Who cares?". You will be tying up an interest rate that is probably under 5 percent for thirty years and that may be the real bargain.

    One of the few sources of 100% financing USDA Rural Development changed from an eight tier income limit program to a two tier program Monday April 20, 2009. Effective this date a one to four member household can earn up to a max of $73,600 and still qualify for a USDA loan. Advantages for those who qualify are:

• possible 100% financing
• No mortgage insurance requirement