While property values continue to show declines nationally; some areas are showing meaningful signs of a bottom.

Now is the time to shop.

Rates are bottoming also, as increasingly The Fed turns its focus toward inflation concerns.

Now is the time to shop.

First Stop - Pre-Approval

In busy markets the best practice of real estate agents is to have the prospective buyer speak with a Lender before seeing any property. First, this puts the buyer into the right price range for their budget; and second, it makes for a more efficient home search.

The real values in the market place are moving fast. Over priced homes where the seller is holding out and hanging on to a market-gone-by are the homes that are languishing and giving the impression of a sluggish market.

Unfortunately, some agents, (even with $4/gallon gas) are so excited to have a warm body in the car, that they skip the pre-approval process. This can end in much heartache when the home one falls in love with is beyond one's loan qualification; or worse, down the road the payments overwhelm the new owner's budget.

It's simple to get pre-approved, with an actual loan approval based on income and credit. The rest of the qualifying is reviewed once a property is found and put under contract and appraised. This actually assists in the price negotiation, because the buyer is ready to move quickly to closing.

Next Stop - The American Dream

It's not corny- owning your home gives you a sense of pride, security, and an investment foundation for the future.

It is a great time to look at real estate- just make sure you get the process in order to make sure your dream doesn't turn into a nightmare.