Interest rates, prices, an $8,000.00 tax credit for first time Buyers plus a tight rental market are four compelling reasons for beginning your search. Lenders are starting to offer better conventional loans although FHA loans are by far more popular with first time buyers. There are bank owned homes and homes in the foreclosure process which can be purchased at a considerable discount from average prices of similar homes and there is often additional financing for funding your fix up costs. The fortunate outcome of the “distressed property” scenario for todays buyer is that these kinds of available properties have forced the prices down on the regular “non distressed” homes – in short-a great time to buy!