The simple answer to my question is YES. It makes sense that people who need to sell their existing house before purchasing a new one are stymied by current market conditions. BUT, this is a great time to be a First Time Homebuyer or renter looking to own again. From all accounts, real estate prices in our area are near bottom. Mortgage rates remain low, at least by historical standards, and it's a buyers market. What more could you ask for?
All you need to do is get yourself pre-qualified by a mortgage broker, which basically gives you the clout of a cash buyer and will let you know the price range that you can afford, get yourself a good realtor, and start looking for your new home! There's plenty of inventory to choose from.
If you aren't concerned with getting settled into a new school district by the beginning of September, you have an even greater edge. It is a very difficult time to be a seller right now and many homes are not priced for this market (they're still priced at last years values). A good realtor will be able to help you with making a fair offer.
If you're a first time homebuyer who's sick of renting or living with your parents, what are you waiting for?
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