Have you been pondering buying a home or investing in
real estate? Like most people you might be putting off buying real
estate because you are leery of the economy, waiting for the stimulus
package or heard some negative press.

Well, now is a good time to buy, and the Raleigh area housing market is doing well.

Raleigh,
NC, is listed as the 6th healthiest housing market in the U.S. for 2009
according to a recent article in Builder Magazine. This comes as no
surprise. The Raleigh-Durham area consistently ranks in the top 10 best
U.S. cities to live and is a popular choice for relocating families.

According
to the article in Builder Magazine, they analyzed the top 75 housing
markets in the country. The article looked at population trends, job
growth, home prices and number of building permits to determine the top
markets. The article noted what the healthiest housing markets have in
common, including close proximity to the ocean, mountains or major
universities and no substantial increase in the price of homes. The
Raleigh area has all these attractive qualities plus the four seasons,
a comfortable climate, affordable cost of living, Research Triangle
Park (RTP) and more.

The U.S. Census Bureau announced the
Raleigh-Cary area as one of the fastest growing metro areas between
2007 and 2008. From July 2007 to July 2008 there was a 4.8 percent
increase in population in the Raleigh metro area and most of these
people have yet to purchase homes. Additionally, Forbes recently ranked
Raleigh as the number one city in the U.S. for job growth.

The
Triangle housing market is more stable and steady than the rest of the
country. Homes here have not depreciated. According to the Triangle
Area Residential Realty (TARR) Report, homes in the Triangle are
appreciating between 2 and 4 percent. U.S. homes on average are
depreciating at 8.2 percent.

Plenty of homes are selling at their
top value in a short time period. For example, a recent search for
single family North Raleigh homes on the MLS in the $275K to $325K
range yielded only 73 homes on the market with a median of 54 days on
the market. That does not qualify as an oversupply in our marketplace.
That is also an indicator of why most of our market areas have
appreciated in the past 12 months, not depreciated as most of the
nation has.

However, if you are patient, you can find a deal, not
a steal. A majority of what is on the market now has been on the market
for a while mainly because the initial asking price was too high. These
are starting to drop in price.

Interest rates are the lowest
they've been in 37 years. If you wait, thinking that you might get a
lower price on a home, you may lose in the long run if the rates go up.
Whatever, if any, savings in the sales price you may possibly gain
would be outweighed by the higher interest rate compounded over a 30
year loan.

When the market starts turning to a sellers market, it
will happen quickly. Listings that are properly priced and are in top
condition will sell immediately when they hit the market.

Now is
a good time to start shopping for a home. Talk with a real estate agent
about available listings in the Raleigh area. Contact your mortgage
broker to take advantage of the low rates.