Are you thinking about buying in this market? It’s a great time to buy and let me tell you why.

Mortgage rates are very attractive. The average interest rate on a 30-year mortgage is 6.1%. By December, interest rates will most likely reach mid-6% and the forecast rate for 2009 is 7%. The inventory of homes is abundant and will remain so but financing is projected to get more expensive.

No one can time the bottom of the market. For buyers, now is the best time to buy - inventory is high and mortgage rates are low. Make sure you look at a reasonable amount of homes before you pick “the one” and then drive a hard bargain. If you are trading up, you may want to sell your current home first before you buy. If you don’t, you may be forced to pay two mortgages until your current home sells.

Do yourself a favor and don’t listen to the national news when it comes to real estate. Real estate is a local market (versus a national market). The Harrisburg area (Cumberland, Dauphin, York, Perry) is very stable and homes are selling at ALL price points. During the first quarter of 2008, in Central PA alone, 1,598 homes settled.