This is a good sign for the economy. I am seeing a lot of offers and deals on the bank owned properties getting approved. With all the buyers taking advantage of the lower priced housing and the overall low interest rates, we are optimistic in seeing a turn-around in the near future.

Obviously this will not happen over night, but I am seeing that light at the end of the tunnel.

Another way to look at things is what a great value new home buyers can find when shopping for a home.  A few years ago, new home buyers were shut out at buying the larger home that they wanted because the prices were too high and out of their budget.  Now they can find the same houses at nearly half the price on the foreclosure lists.

In my eyes, this is a great time to buy a house.  I am seeing tons of deals coming through our office for new purchases of properties that cost twice as much two years ago.  Housing is now affordable again.

If you have been putting off buying a house because you thought they were not affordable, maybe you should go out and take another look.  The deals available now (and probably for the next 12 months) are incredible.