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There is much give and take involved in negotiating a property purchase. That's why it's important to have a checklist of what you want to get out of the deal as a buyer. Bear in mind, the home must be appraised and the lender will be looking at the fair market value on a given property. Since property values fluctuate, your Real Estate Agent should do a comparative market analysis so you are aware of what the trends are for the area in which you are shopping. This will give you an idea as to whether the seller's asking price is realistic. You will also want to know how long the property has been on the market, and if any price reductions have occurred during that time.

Make sure your Real Estate Agent is on the same page with you so he/she is able to represent you properly. You also want to know that you are working with an agent that is experienced in representing the buyer. Not all agents have the ability to provide strong representation for both a buyer and a seller. If you have not yet selected a Real Estate Agent to represent you, my team and I can provide you with contacts that have a proven track record of success with our clientele.

Remember a good deal is mutually beneficial.

The seller will also have a wish list of what they want out of the negotiation. Listen attentively to determine what their hot buttons are. You can use this information to leverage what you want out of the deal at some point along the way.

Find out if the seller has a deadline. Perhaps they have already purchased their new home, or have to relocate because of a commitment to a new employer. Find out what the seller's current mortgage balance is and use this to your advantage.

On the other hand, if the seller wants to move because they can't manage upkeep on the home, or don't want to invest in repairs, these problems will be passed on to you. If you are prepared to go into a deal that involves a fixer-upper, there is an FHA financing program designed to provide funds for both purchase and repair. My team and I can provide you with more information on FHA loan programs and secondary financing.

You would also want to know if the seller is planning this move because there are problems in the neighborhood. Take a walking tour of the area and ask the residents what the neighborhood is like. You can also ask the local police department about the crime rate, or check the local newspaper for crime listings. Don't be afraid to ask questions.

When the seller is intent on getting their way on a certain point, make sure you are getting something in return. Typically the built-in amenities such as the dishwasher and garbage disposal will stay with the home. You can negotiate other items in exchange for something that ranks high on the seller's wish list. Be prepared to split the difference so everyone involved is satisfied with the negotiation. A win-win situation for both the buyer and the seller is critical to a smooth close.

Keep it simple and be direct, but above all, know that my team and I are here to assist you.

Call me directly for a free consultation.

"Be greedy when people are fearful and fearful when people are greedy," says Warren Buffet, one of the richest men on the planet. And with so much fear in the real estate market right now, you may be wondering now that spring is officially here, "Is now the right time to buy a home?"

Let us turn to Barry Habib for an answer to this important question. An expert in the mortgage-backed securities market, Barry Habib is Chairman of Mortgage Success Source and founder of Mortgage Market Guide. Mr. Habib has managed a hedge fund, authored a stock advisory newsletter, owned an insurance agency, and has been an avid real estate investor for many years.

Habib says that one way to determine whether the time may be right for you to consider buying a home is to start looking at the rents in your community. When a full mortgage payment, including principal, interest, taxes and insurance begins to equal or fall lower than rental rates, the market is typically near the bottom, and you should see housing begin to stabilize. In many parts of the country, we have already seen this occur.

According to the National Association of Realtors, median home prices nationally fell 15.5% in February from the previous year. The median price, not the average price, represents the market price for a given period of time where half the homes sold for higher and half sold for less.

First American CoreLogic breaks down the numbers on a state-by-state basis. Looking at some of the worst-hit individual states, January brought the following information from its LoanPerformance HPI numbers:

• Nevada: Down 26.85%
• California: Down 26.7%
• Arizona: Down 21.3%
• Rhode Island: Down 19.7%
• Florida: Down 19.5%

The LoanPerfomance HPI is based on extensive data of more than 30 years of information on repeat sales transactions of specific homes and time between sales which CoreLogic states offers a more accurate "constant quality" view of pricing trends.

What's interesting about the numbers is that depending on who you are speaking with, the numbers can be dramatically different. For example, the State Association of Realtors reported in January that home prices in California fell 41.5% and in Florida fell 33%, as compared to down 26.7% and 19.5% for California and Florida respectively.

In reviewing the CoreLogic numbers on a state-by-state basis, the median number for January would be in the 3.3 to 3.7% decline range.

The point here is that, while the general media would lead you to believe that the sky is falling, things may not be as bad as they seem. In fact, if you eliminate the six states hit hardest by price declines, you can see that the rest of the country is not nearly in as bad of shape.

Habib adds that when you compare the value of buying versus renting in your community, which includes ownership, future appreciation, and tax advantages, the choice is clear. It simply makes more sense to own right now than to rent in many communities.

For first-time home buyers, it makes even more sense to buy right now. Not only are home prices lower than they have been in the last five years, mortgage interest rates, at the time of the writing of this article, are near historical lows - this means your parents and your grandparents couldn't have secured a mortgage at a lower rate than you could've in the last month.

To add to this advantage, the government is offering first-time buyers (anyone who hasn't owned a home in the last three years) a temporary tax credit of up to $8,000 that doesn't have to be paid back. What's great about this credit is one can even amend their 2008 tax return to recapture the credit this year, which means they don't have to wait until next April to get their money.

The Best Could Be Yet to Come
Last year, a study was released by the Joint Center for Housing Studies of Harvard University. The study reflects upon the housing bust that began in 2006 and deepened into 2007 and 2008. While much of what has contributed to the housing market's decline has already been widely covered elsewhere, this report also demonstrates what potentially lies in wait.

Habib states that population growth affects real estate demand and values. During the housing market's boom years of 1995 to 2005, household growth was approximately 12.6 million. In the next decade, 2010-2020, it is estimated that household growth will increase 14.4 million.

This increase in households will come from a number of different factors, says Habib, including households resulting from divorce, "echo boomers" becoming adults, and a continued increase in immigration. Any increase in any one of these areas could lead to an increase in demand for housing in the near future.

The Greater the Need, The Higher the Price
The more you want or need something, the more you are willing to pay for it. It's simple economics. Take housing, for instance. Inventories are up, fewer people are buying today as compared to a few years ago, and prices have declined.

As prices decline, builders build fewer homes. Even though new homes sales were recently reported higher for the month, the number still represents an annualized decline of nearly 1.4 million homes since 2005.

With multiple-year declines in new construction, this simply means that as more people come into the market to buy a home, there will be fewer homes from which to choose, and prices will be forced higher.

So What Now?
While this article is a discussion on whether or not now is a good time to buy, it's also important to look back a little. In just the last few months, the number of homes being sold has increased. Compared to February of 2008, existing homes sales this February increased 5.1% and new home sales were up 4.7% across the country. Even more telling is that in the areas where housing has been hardest hit, buyers are coming out in droves. California, up 83%; Florida, up 24%; Las Vegas, up 28%; Miami, up 47%. Buyers are clearly excited and are looking at property - and more home sales are occurring.

No one can time the market perfectly and find the exact bottom. But even if you don't, it's okay. Interest rates are at their lowest in decades, home prices are extremely low, and this combination yields the greatest increase to home affordability in years.