Nina Link's Real Estate Blog

These are unprecedented times! The combination of low mortgage rates and low home prices make this an excellent time to buy.

Mr. Opportunity is knocking. Isn't it time you answered the door?

With mortgage rates and home prices at an almost unprecedented low, buyers have tremendous opportunities in 2009 to get into the home of their dreams.

Jean Chatzky, NBC Today Show's financial editor, confirmed this on a recent episode saying that if you are in the market and you have saved a 10, 15 or 20% down payment, you have a plethora of housing options available.

On a local level, according to a report from IHS Global Insight and National City Corp, Naples is one housing market that is surprisingly undervalued by nearly 20%. The nationwide study considered interest rates, household incomes, population densities and historic data to determine fair values.

As of November, the average sales price in Naples, Bonita Springs and Estero was at 2004 levels, so there's no doubting that great purchase opportunities exist, says Dottie Babcock, chief operating officer of John R. Wood Realtors.