”Since prices generally soften in the winter, it may make sense to start looking seriously once the mercury bottoms out. “If you look at new developments next spring, you may not have the choice you thought you would have or be in the bargaining position you thought you would be,” Mr. Shepherdson said. Also, if you wait after June 30, you will miss out on a $7,500 federal tax credit for income-eligible first-time home buyers that works like an interest-free loan. Finally, allow yourself to consider how it would feel if you bought and then prices dropped another 10 or 15 percent. ” Click here for the rest of the piece in the New York Times Your Money section.
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