Most experts agree that Salt Lake City’s housing market has bottomed out. But don’t expect housing prices to rise any time soon. There’s still too many foreclosures that need to be sold.

Historically low mortgage rates make home buying more affordable, and today’s reasonable home prices can make a good case for buying rather than renting, say advisors quoted in USA Today. While many first-timers are leery of making a long-term contract, here is a way you could determine if the move is a wise one.

* Divide the price of a home you are considering by the annual rent for a comparable place. If the number falls below 15, buying starts to look like a good idea.

*Do your homework on line first. That way you’ll be able to recognize the real bargains. Then let a REALTOR structure your contract, protect your interests, and negotiate with the sellers, so your transaction actually closes.

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