Why buying a home isn't such a crazy thought right now

Are you petrified to buy a home right now? And why wouldn't you be?

The unemployment rate hit the highest it has been since 1983, the stock market is volatile and unappealing, and today, it seems people are hording their money in gold as the commodity surged passed $1,000 an ounce.

So is it a right time to invest in an abode? Yes, according to Diann Patton, the Coldwell Banker consumer real-estate spokeswoman.

Despite all the other factors that may be out of whack at the moment, there are several encouraging elements in the market at the moment that make this an ideal buyer's market..

"For one, the number of homes on the market is at an all-time high," Patton said in a recent interview with wowOwow. "State and federal governments are offering a number of tax breaks that make many nervous buyers feel right at home. Interest rates have hit lows that we haven't seen since 1964. And home prices are at levels that were seen in 2003."