The Wasatch Front has avoided the housing turmoil experienced by many metropolitan areas across the nation and is now considered the top market in the nation for potential homebuyers, according to Forbes magazine.

Mortgage rates are down, prices are falling and inventories are high, while job growth remains strong in the Salt Lake area. Forbes this month ranked Salt Lake at No. 1 on its list of the "10 best cities for bargain house-hunters." Despite the comparative market and economic strength, shopping for a home in a buyer's market can still be challenging, and real-estate agents and mortgage brokers warn consumers looking to buy to do their homework before making any decisions.

"Shop the market, take time to learn the market," said real-estate agent David Seiler with ReMax Associates. "Areas of the valley are going to be vastly different right now, depending on inventory levels."

Homes are staying on the market longer now, and sellers are reducing prices. One home in Salt Lake originally listed at $380,000 was recently reduced to $317,000 in an effort to entice more interest from prospective buyers, and it still hasn't sold, he said.

Seiler said buyers should choose a reputable real-estate professional to help them in their search and do some research on their own, as well.

While the supply of houses is increasing, lenders also are returning to more stringent standards because of the subprime mortgage crisis, said Matthew Prestwich, president of Murray-based Homeline Mortgage. Utah so far has been cushioned from the effects of that crisis, and while foreclosures are up nationally, they decreased by about 17 percent in Utah in 2007, compared with 2006.

At the same time, mortgage rates are down sharply from a year ago. Prestwich said the average rate for a 30-year fixed-rate mortgage on Wednesday was 5.88 percent, and 5.38 percent on a 15-year fixed-rate mortgage.

Jillinda Bowers, president of the Salt Lake Board of Realtors, said buyers should find a good lender whom they trust. The Wasatch Front market is a good place to put down roots, she said, because the chances are strong that a long-term investment in a house will show appreciation.

Since builders currently have some excess inventory, many of them may offer incentives to potential buyers, or buyers might be able to negotiate upgrades or home warranties, she said.

Seiler said that while buyers may have some advantages in the current market, they shouldn't expect to get a steal. "There are not a lot of those out there," he said.

Some buyers make the mistake of trying to underbid on a home, thinking they can use their leverage to their advantage, but they end up offending the seller and ruining their chances to get a good deal on a property.

"You need to find a balance," Seiler said. "Try to make the offer just good enough that it's going to help you, but not bad enough that they might not accept it."

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