So, should I buy now or NOT???!!!!

Yes. I mean, "No!". Uh.. yes! Well it depends.

Geesh! Don't you wish that these kind of questions could be answered, for sure, with a simple yes or no? Sorry. They just can't. But here's what I would say to you today...

Do you need a place to live? Probably. So if you have saved enough for a down payment and closing costs... and if you've done your homework (read: analyze your income and expenses) and determined it's financially possible to do... do it! Buy a house. How much are you going to pay in rent? How much would that figure support as far as a mortgage goes? Then look at the tax benefits. Probably makes more sense to buy than to rent.

Don't try to figure out what the market's going to do. Don't try to figure out if interest rates are going to go down. Tell you what. They will. And they'll go up. And they'll go back down again. But you and I really can't be sure as to when and how much.

So... buy your own home. But just make every effort to avoid overextending.

Be smart... don't fall victim to a lender who tries to tell you that you can buy way more house than that!

Also, realize this. You know those companies that advertise on line and TV that you can submit your info and they can have you an approval in minutes, blah blah blah? Be careful with them. We've seen them! Here's what happens. You get a real quick approval and you're very excited. Then they put you in touch with their local rep, and the real work starts. "Oh, we're sorry, but after looking further into you financials, we're going to need this and that, and by the way the rate has changed and also we're going to require some more money up front...." This is a recurrent theme and has made many a buyer very sad and many sellers upset that the deal fell apart weeks after they were sure they had their house sold! So what should you do? Work with a local banker or mortgage originator! Ask your Realtor who THEY recommend. I'm pretty sure you will be on much more solid ground if you use them.

Last, but not least: Save. Even if saving means waiting a little bit. Saving money shows the bank that you are a responsible person who will be a good risk to loan money to!

Go ahead... plan... save... and buy!