here's the deal....there is lots of inventory due to foreclosures; and while you are purchasing a new home...it sounds like you are getting a pretty sweet deal...but let's look at your loan...you didn't address that.

is your loadn an ARM? cause if it is ...you lose out on this deal?
make sure your loan is a fixed rate, with no prepayment penalties....wherther 30 year or 15 or? make sure fixed

other than that it sounds good.