This is a great time to buy. Interest rates are very good and some government incentives to buy make it a historically unique opportunity. One such program is the U.S. Housing and Economic Stimulus Act created by Congress and HUD's goal is for 5.5 million Americans to be able to purchase a new home by 2012.
Additionally, the Texas Department of Housing under the direction of Governor Rick Perry has introduced a program that contains no first time homebuyer requirements. Everyone qualifies, so long as your credit scores are reasonably good (about 550 or above).
Visit housingprograms.org for more information.