House hunting? Know the market in 2011
Photo by Rachel A. Sale | Lauren McNulty and Andreas Kirn knew they'd have trouble renting with six pets, so they took advantage of low prices and low interest rates to buy their first home last year.
When San Diego member Lauren McNulty and her boyfriend decided to move in together, they knew their six pets might make it difficult to find a good rental. So last year the couple took the plunge into homeownership.
"Prices and interest rates had dropped, and it seemed like a good time to get into the market," says McNulty, who took advantage of an $8,000 federal tax credit that was available at the time.
McNulty was able to find a silver lining in a market that has been generally termed as gloomy. Despite the high rate of foreclosures, record unemployment — a bellwether for home sales — and the increased number of requirements for getting a loan, there were also positive signs in the real estate market last year.
Read more about market trends from the experts, plus get tips on what to watch out for in 2011 by reading the stories below: