As we continue to endure frigid temperatures in the winter months, our local Real Estate market is starting to heat up. Particulary in the entry-level price ranges (up to $200,000 or so), many buyers are again experiencing high levels of competition.

Many first-time home buyers are keeping an eye toward the expiration of the $8,000 tax credit incentive; to qualify a buyer must have a signed purchase agreement in place by April 30th. As such, we will continue to see increased levels of buyer activity as we near that deadline. We are already starting to experience many cases of multiple-offer situations and properties being sold within days of hitting the market. In the words of one of my buyers, "It's a war zone out there!"

My intent is not to discourage buyers - it truly is an awesome time to purchase a house when considering the bargain-basement housing prices, low interest rates, and the $8,000 tax credit. But don't wait until the last minute! Act quickly to maximize your leverage as a buyer.