21.2 Billion Slashed Home Prices Nationwide! Is it time to buy?

According to Trulia's (1 of the TOP Real Estate Search sites in America), January price reduction report: it showed $21.2 billion has been slashed from home prices nationwide with Seattle ranking #4 with 32% of listings having price reductions with a combined total of $58,752,540. WOW! 

What does this mean for the Seattle Home Buyer?

• Right now is a good time to buy, plain and simple. 
• Home values will recover and when they do, you'll be sitting on a golden egg. 
• Rates are as low as they've been since 1971 that's (38 YEARS)
• The Tax Credit. The Government is giving money away. 
  
  
  

  January 2010 Price Reductions (Nationwide)
  Rank	City, State	% of Listings w/ Price Reductions	Total Amount of Reductions
  1	Jacksonville, FL	36%	$96,648,312
  2	Milwaukee, WI	33%	$22,663,190
  3	Portland, OR	33%	$46,302,242
  4	Seattle, WA	32%	$58,752,540
  5	Omaha, NE	32%	$11,397,240
  6	Tucson, AZ	30%	$19,047,006
  7	Charlotte, NC	30%	$85,977,657
  8	Baltimore, MD	29%	$35,205,390
  9	Indianapolis, IN	29%	$28,732,984
  10	Mesa, AZ	29%	$27,230,319

  
  Source: $21 billion off home prices – what's in it for you?   January 14, 2010 
  
  

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30-Year FRM Rates 1971 - 2009

Source: http://mortgage-x.com/trends.htm