House bargains

Like other economic clouds, there are silver linings beginning to show after months of recession. In the Cape Girardeau area, one of those bright spots is the real estate market.

Real estate brokers say this area's housing market hasn't been hit as hard as other parts of the country, and there are indications that home sales this month will top last year's figures.

For home buyers, this is a good time to looking at houses. Mortgage rates are at historic lows, which means potential savings of thousands of dollars over the life of a standard home loan. Despite all the news reports about the frozen credit system, plenty of lenders are willing to give mortgages to qualified buyers. And home prices right now are attractive to many buyers, particularly those in the midrange of listings.

There also is a special tax credit for first-time homebuyers this year, which could make a sizable difference in next year's tax returns for those who take advantage of it.

It's hard to promote buyer confidence, particularly when the unsettled economy means still more paycheck earners may lose their steady incomes. But for those who have secure jobs, good credit and the desire to buy a house, now is a good time to sit down with lenders and real estate experts and figure out what fits your budget.