1st Time Homebuyers Key to Market Rebound

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I have been in down markets before as an agent, loan officer and investor in the Atlanta area. Each time you could always tell when the market was on it's way back by the # of 1st time homebuyers/lower income families entering in the marketplace. Their entrance created a ripple effect throughout all price ranges.

Based on what I understand, the Federal government is working on a program to "prime the pump" w/ certain changes to FHA loans which will make them easier to qualify for. If this happens, we may not have a great Christmas (I think the changes would take effect Jan 1, 08), but it is conceivable that we could have a kicker Spring Break.

Don't get me wrong, just changing a few programs is not the complete answer, but coupled w/ a lower Fed Funds rate and more money in the market, I believe we will see a significant impact. Especially if we get out there and market the heck out of the new opportunities.... :D

Several of my banker buddies have sent me info telling me that they are starting to see some cheap money come back. Has anyone else seen this?