MADISON, Wis. -- Home buyers looking for that perfect home might be in luck.

Some experts said that not only are home prices dropping, but interest rates are dropping too, creating a buyers' market, WISC-TV reported.

Current interest rates are running at about 5.6 percent, officials said.

Reiner and Elvira Bleher said that they believe this is the time to buy their first home in the U.S.

"The house prices are so down you know and we'll use that to our fortune," said Elvira Bleher.

A home on Midvale Boulevard caught the pair's attention. The home has been on the market for a month and the current owners have already reduced the home's price twice.

"I think it's a great home," said Reiner Bleher. "It looks great. I especially like the outline and I think we are considering it seriously."

"It's a great time to buy right now because you've got kind of a perfect storm of prices softening a bit and really lower, historically low rates," said Realty Executives broker Keith Baal.

Baal said while this is the best time in the past five years to buy home, buyers should be aware of changes in the market.

"Obviously, you have to have good credit," said Baal. "The subprime loans are kind of out of the picture for now, but there are still programs out there."

Baal predicted that buyers will have about six more months before the Madison housing market begins to turn around.

Brokers said potential home buyers need to speak with a lender before they begin looking for a home so they know how much house they can afford. They also recommend using a realtor when buying a home, even if buying directly from a homeowner, WISC-TV reported.