Lower home prices and lower financing rates mean good news for purchasing power in today's real estate market!  Let me give you a hypothetical example of a home that was listed for  $759,000 in November 2008 that has now been reduced by 8%:   November 2008 Purchase Price - $ 759,000 Down payment -  $ 75,900 (10%) Mortgage Amount - $683,100 Interest Rate - 5% (closed varia ...