What is the market doing now?  After 30 years of being in the Real Estate field I thought I had seen it all. But, the one thing that never seems to change is that when the Real Estate market goes down it always comes back. Most buyers are still riding the fence to see when the bottom will hit.  But its been my experience that when you think the bottom has arrived its already on the way back up.  The more experienced buyers are in the market right now and making great deals with foreclosures and short sales.  If you have the cash and the credit you are in a great place to negotiate a below market deal.  I have seen many homes selling for a lot less than you could build them for.  Drive around your neighborhood and and you will notice that the only "for Sale" signs are Bank owned properties or listed as a "short sale".  So if you are an owner thinking about selling then you better look at your competition first.