If you have been reading the latest headlines you may feel nervous about home ownership. Real estate is cyclical and the market is on its way to recovery in most areas. Property is still your best long-term investment.

In more than two-thirds of the country housing affordability has dipped to pre- housing bubble levels, creating opportunities for those looking for a bargain. Home prices are expected to rise in 2013 due to fewer distressed sales and impending housing shortage.

A major advantage to home ownership is building equity. The average seller who purchased a home in 2002 gained 24% in equity, while those who purchased their homes 11 to 15 years ago had a median gain of 40%.

Mortgage rates have decreased over the last fifty years to record lows. Due to the economic downturn, borrowers with stellar credit and a solid employment history are best able to secure financing right now. However as conditions improve, the market will expand for borrowers who may not fit the mold of traditional lending standards, such as the self employed.

Property is more affordable now than it has been in 40 years. 91.2% of mortgages are current and only 3.75% are in foreclosure. Two-thirds of Americans say that now is the best time to buy.