It’s summer! The weather is hot and I am pleased to say, the real estate sales market is heating up too!Why is it a great time to buy? The answer is simple the price is right! We have seen property prices slowly decline over the last few years back to “pre-bubble” values, putting prices closer to those witnessed in 2003 to 2005; interest rates have remained low; and inventory has dropped from 360 properties last year this time to 270 on the market today. Buyers who enter the market under these conditions are likely to see a return on their investment if current trends continue.Even though inventory levels have declined over last year, there is still a great selection of properties on the market with opportunities for buyers. Even those who need to ‘sell to buy’ can agree that the price differential on a new home often compensates for accepting a lower listing price on their current home. We are seeing renewed consumer confidence in buyers. A new government and new policies are seen as positive beginnings for Bermuda as a whole, and more realistic prices are making home ownership more achievable.Free standing properties in the $750,000 to $1,250,000 range are in strong demand. In recent months, we have seen several listings attract good strong offers, even multiple offers and some of those bids were above asking price. Buyers should get their ducks in a row, make an appointment to see their lender, get pre-approved and ready to move if they are seeking a cottage or house in this price range ... these are ‘hot ticket items’ at the moment.Additionally, there are some wonderful opportunities for buyers looking at condominiums. Homeowners all know that maintaining a property in the Bermuda climate is hard work. Condominiums tend to be fairly hassle-free.If you are single, retired or juggling busy careers, this can offer an attractive alternative to spending every weekend mowing the lawn, painting the roof and fixing things around the house. Bermuda is one of the most beautiful places in the world to live, especially if you have the time to enjoy it!Condominiums make up 40 percent of our inventory, and purchasers are likely to get excellent value for their money. It’s true that some units may be looking a little tired and need a coat of paint or new floor treatments. However, many complexes often offer top dollar amenities such as large acreage, pools and tennis courts which a free standing property in the same price range does not offer.Certainly this is an entry level opportunity that should not be overlooked. All too often we hear, “But I didn’t really want a condo”, don’t discount the idea completely, paying a mortgage and building equity in your home is one of the best ways to build wealth, and everyone has to start somewhere. I suspect if you ask anyone “living the dream”, there were sacrifices made to get there.Real estate ownership is a journey that starts with one small step ... don’t be afraid to take it!Heather Chilvers is a Sales Representative with Coldwell Banker, she has been in Real Estate for over 25 years and can be reached at 441 332 1793 hchilvers@brcl.bm.