As we approach the end of 2010, I reminisce about a year that will go down in the books as one of great sorrow, or one powerful learning experience.

If I were to base my life on what I hear and read in the news, I might think that armageddon is upon us, and I didn’t even pack a bag. But it isn’t. I have to look at this year and 2009 as a learning experience, both personally and financially.

Let’s look at the real estate market during this holiday season. Today, homeownership has never been so affordable. We have the lowest interest rates since the 1970s, and the amount of inventory on the market is the highest it’s ever been. So we are — and have been and will be — in a buyer’s market for the extended future.

From the homeowner’s perspective, the question persists: Have we seen the bottom? My guess is that we have, which also means the only way to go is up. However, recovery is not going back to high prices as experienced two years ago. It may be some time before we see that, if we see it at all. Some homeowners feel it’s not the right time to sell, since the equity has been spent. Then, there are homeowners whose equity is untouched and will experience a gain by selling their property — not the profit that they would have gained if they had sold two years ago, but a profit nonetheless.

For those homeowners who have lost their homes to “short sales,” the overwhelming feeling is “the glass is half empty.” The bank has now become the “owner” of their home. It has not been easy to watch homes being lost and families having to walk away from what they thought would be their home for the long term.

I have seen incredible strength and resilience in the past year. Moving forward for some could mean moving into a rental, but with the idea that one day they will own again.

The education I provide for a step-by-step approach on how to navigate a “short sale” has definitely eased the pain. It has not helped the fact that homeowners still had to walk away, but I hope the added education and resources did help in regards to moving forward.

The loss of jobs have created new jobs — jobs people never thought they could do, or maybe haven’t tried. The pressure of owning a home with all the bells and whistles today seems probably insignificant for the family. In some cases it seems like a “relief” that today, some families ask: Why pay for something we can’t afford and have to hold down two jobs to have? Today, it is “let’s live within our means. We don’t need so much space, let’s simplify and enjoy our life.”

For the buyers who sat on the fence last year, waiting to see the bottom: Don’t wait anymore. Get off the fence, get qualified and look for your home. Look for a home that you can step into. This home might not be the biggest, and I say “so what.” I say it is better to pay yourself than a landlord. I have met many people who don’t think they can afford a home today because of bad credit, bankruptcy and not enough money down. I am here to say, get qualified. Go see at least two mortgage advisors.

If it is this year, next year or the year after to buy a home, isn’t it good to know that one day you will be an owner, and you will stop paying somebody else’s mortgage?