This week we talked with Mark Wade, Realtor with Keller Williams Realty Metro Atlanta and licensed for four years.

Q: House prices seem to be continuing to go down. Should I wait to consider buying a home?

A: I hear this from buyers all the time, "I'm going to wait a little while longer because house prices are going down." What they don't realize is that the forces pushing house prices down are pushing mortgage rates up. Anything you might gain in waiting for the house price to go lower could be offset by the increase in mortgage interest rates.

Q: How will that make a difference?

A: Time magazine recently did a story about this. They gave an example where a $218,000 home now, with 20 percent down and 5.5 percent interest for a 30-year fixed rate mortgage, would cost the buyer just under $995 a month. If the buyer waited 12 months for the price to go down 10 percent to $196,200, they could find themselves facing a 6 percent mortgage and the payments would still be just under $995. They'd have lost a year building equity, spent a year living some place they'd rather not be, and still be spending the same amount per month.

Q: Does that apply to new construction as well?

A: I think we're seeing builders of new homes become more and more flexible. There was a time when the price of a new home was not negotiable, but now builders are motivated to sell their new homes. This is one of the most important times for you to use a buyer's agent. Remember that the listing agent is there on the seller's behalf. Your own agent will work hard to get you the best deal at the most favorable terms possible.