Finally, it's a buyers market. For the years rapidly rising prices kept many buyers out of the market. But as homes prices and interest rates have continued to decline, it might be a great time to start looking to buy that home you want or need.

That is, if you have a secure job, can afford the higher downpayment and can meet the lender's stricter requrements for income and credit. Dick Lepre, senior loan Officer at Residential Pacific Mortgage says,"Lenders aren't cutting everyone off. They're reverting back to sanity after years of making bad loans."

Remember...You are investing in a place to live.

Here are a few tips to go by:

• Determine what you can afford
• Know the market
• Make your dollars count
• Haggle
• Buy for the long haul

Words to live by ... Keep it simple. Buyer smarter and cheaper.

For more great Orange County market insight and industry news visit Laguna Niguel Real Estate or view the Orange County Market Trends at Orange County Real Estate.

Listen to Zen's Laguna Niguel Real Estate Podcast available 24/7.