The buyers are out! We are seeing that the overall market for homes priced under the Jumbo Loan limit of $417,000 has returned to a normal level. This attributed to a correction in the overall pricing of homes. This means that things are selling but only if the price has been reduced below the previous high values of 05 and 06. We are noticing that homes that are in good condition, good location, have good functionality and priced under $250,000 are moving very quickly on the North end of Whidbey Island. First time home buyers, which there are a lot of, are taking advantage of the recent $8,000 tax credit. The definition of a first time Home Buyer is anyone how has not owned a home in the last three years. Banks are very close to having a program in which the cash will be fronted as a bridge loan and can be applied directly to the down payment at closing. This is good news. Also the tax code reads that even if the client has not paid $8,000 in taxes the difference between the amounts paid to the Treasury and the $8,000 will be available to the client in the form of a refund. Take advantage of the gift from the American tax payers.