Buy a house now if you are ready. The market is near bottom.

For everyone who has been waiting for the bottom of the housing market before buying now is the time. The bottom of the market will be between the November 2 Elections and the start of the new congress on January 3rd, 2011. If you are ready to buy now is the best time. Interest rates are low. Supply is high. Demand is pent up. But beware the increase in values will take a long time so don't think you are going to flip a house for a quick buck like in the old days. Unless you are an expert in the field best plan to buy and hold. Save up first for a big down payment (at least 20 percent) so you have more financing options with lower rates. Don't think borrowing at high rates to get a house before prices go up is going to save you any money. It probly won't. Sometimes it is just better to rent. It all depends on your personal finances, your plans to stick around and your local housing market.