Rates have moved up slightly this week and Builders keep trying to pump up the market

As you read this article by a Home Builders Association it is interesting to see the thought pattern. They say you can NEVER lose buying a home. Tell that to some of the people who bought at the highs in the market. Yes it may be true IF you wait long enough you will recover from your high purchase price but if you are not staying in the home for a period of time long enough to overcome the high price you paid you will and CAN lose money. Buying a home is not always buying a money tree. It is true real estate can be a great investment IF done correctly and with the proper knowledge of market values and true cost it is still a investment that can make or lose money. Shop wisely and learn all you can to make wise decisions and do not get sucked in by the talk of "you must buy now" attitude being pushed down your throat as if this is the last house on earth. Most of the great real estate investments are made by knowing the three W's: When, Where and What to buy. Once in a great while someone will "fall" into a great deal. You can make that great deal on a home happen with the right homework. Be very careful and count the true cost of owning the American dream. If you do your homework it can happen and not be a nightmare. Save for a at least a 5% down payment. That will lower you interest rate and monthly payment. Work on your credit scores. you must have good credit scores. You can check your credit scores online at My Fico.Com or Equifax.Next, you need to have some savings for a 5% or more down payment. Do you have a good way to save for a down payment? We highly recommend Emigrant Direct. They pay one of the highest rates in the country on their savings account, with no minimums, no fees. www.rateinformer.com