Now is an excellent time to buy a house, especially for a first time buyer. The government recently announced a first-time buyer tax credit of $7,500 ( which is actually more of an interest free loan because it does have to be paid back over a 15 year period). Click Here to get more info on this programn or call me to 1-877-85-Glenn.
Also with the recent infusion of federal money in the mortgage system, interest rates have come down to less tha 5.5% for 30 year loans (as of Wednesday 11/26/08). When you add these new lower rates to the large inventory of houese available, there is no better time to buy.