Here are 5 new reasons to move this year:

1. The federal government is offering a tax credit for first time homebuyers of 10% of the price of the home, up to a maximum credit of $7,500. There are income and other restrictions, so you should consult a tax professional to see if you could benefit.

2. Recently Federal Reserve Chairman Bernanke said “Fed Funds rate increases may be coming in the near future … these actions will most definitely also increase the cost of obtaining financing,” indicating a possible rise in interest rates next year. Historically changes to the Fed’s Funds Rate tend to impact mortgage rates.

3. The loan limit for FHA loans has increased in many areas, allowing buyers of higher priced homes to use these low downpayment programs for the fist time. FHA downpayment requirements go up next year.

4. Certain types of downpayment assistance programs, such as some offered by homebuilders, will not be available after this year.

5. Many sellers are more willing to negotiate if their homes have been sitting on the market for awhile.

The current market still offers Buyers the greatest opportunity to buy at the years most favorable prices. There are still many attractive foreclosures to see, but those that are well priced continue to receive multiple offer and sell above the listing price. The foreclosure market continues to be an excellent opportunity for first time Buyers to purchase. In particular, the $7500 tax credit for first time Buyers recently passed by Congress makes right now the best time for new Buyers to purchase while there is available properties at rock bottom prices.