For most buyers, it’s a great time to buy.

If you are a first-time buyer who doesn't need to sell a home, you have an upper hand in today's market. Also, if you are "moving up," it's a good time to do so. Although you may have to settle for a lower sale price on your current home, the price of the higher-end home you want to buy has also dropped. In addition, investors interested in the long-term couldn't ask for a better market!

The Tax Credit for First-Time Home Buyers is an $8,000 Gift! Whether you owe taxes or are due a refund, this tax credit translates to real dollars for every eligible first-time homebuyer. For example ...

• If you owe $3,000 in taxes and claim the $8,000 credit, you will receive a $5,000 refund.
• If you are due a refund of $1,000 and claim the $8,000 tax credit, you will receive a $9,000 refund.
• If you owe nothing and are not due a refund, but claim the $8,000 tax credit, you will receive an $8,000 refund.

To  help fund the up-front costs that are part of buying a new home, the Ohio Housing Finance Agency (OHFA) just announced the Homebuyer Tax Credit Advantage program, which can help homebuyers with downpayment and closing costs. It can be used in conjunction with the $8,000 tax credit. To learn more, visit the Columbus Board of Realtors' web site >>

With today's inventory and interest rates, most people who want to make a move to a new home should seriously consider doing so in 2009.

Anyone looking for a home today will find a tremendous selection - nearly 15,000 new and existing homes.

Sellers are pricing their homes competitively and are eager to work with qualified buyers. If you have a home to sell, take extra care in getting it ready for the market. You are competing with other sellers who are very eager to sell, so your home must stand out by its cleanliness, state of repair, and neutral decor.

For first-time buyers, central Ohio offers a number of resources to help you learn about buying, financing, and maintaining a home. Take advantage of what organizations like The Columbus Housing Partnership can offer (614-221-8889).

To investors who like to hold real estate for the long-term, today's market is a gold mine. The number of properties competing for buyers along with the low interest rates make this the perfect investor market.

"Moving up" in today's market is an excellent idea. If your home was valued at $300,000 last year yet you must sell it for $270,000 today, you may have lost the opportunity to earn the $30,000 difference. However, you can assume that the $500,000 home of your dreams also is selling for 10% less, thus saving you for $50,000 on the price of the new home. Guess who comes out on top ... you do!