It's the bargain home prices, low mortgage rates and tax credits that are enticing buyers, according to many economists. During the month of February home sales increased significantly in Florida cities such as Orlando,Orange County, Miami,Miami-Dade County and Tampa, Hillsborough County. This rise in sales has lead many to believe that although lending standards are still tight, here in Florida our winter friends are still shopping for that second home!

During the past year the FED has been pumping $1.25 billion into mortgage backed securities in an effort to keep interest rates at or around 5%, this program is scheduled to expire in a week, although if the economy weakens the FED has announced that they would be willing to re-open that door. The expiration of the federal tax credit is coming up at the end of April, and many potential homebuyers are jumping on the band wagon before they miss their opportunity. With these two major players in the stabilization of the real estate market expiring soon, now is the time to buy!