From personal experience it seems like people are ready to buy. I'm sure much of the recent activity is due to the Home Buyers Tax Credit set to expire this month. If you qualify, this could be mean $8000 or $6500 if you are under contract by the end of the month. (for more information and links here). Even if you don't qualify, now may be the time to buy with interest rates still low and there are many homes to choose from.
What this means in your house hunt is to be very strategic and work closely with your Realtor so you know when the right house is the right price. I have heard stories of multiple bids on homes in recent weeks. This is why it is a good idea to know what you can afford, know what you want in a home, what the comps are for an area, don't delay, and to come in with a realistic offer. While some buyers see this as a chance to get a bargain, if you come in too low you may miss getting a home all together!
So where can you find a great home? Once again, talk with a Realtor (like me!) and a special search criteria can be set up to email you homes of interest. Compare not just price, but room sizes, updates, and improvements. Sure you may be able to find a home that "could" look nice with a little TLC for less, but you have to weigh how much money it will take to bring it to what you are looking for, and the amount of time it will take. Sometimes the better value is a home that is already updated.
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