If you like playing the waiting game in real estate then there is a strong possibility of missing out on a great opportunity when the market turns, and it will. Don’t be caught standing at the dock. Prices are right, rates are low and there are many fish in the sea, er, boats.
Sellers are pricing homes low, but when the economy starts its turn-around and people feel it’s safe again to buy, home prices will rise. A large number of buyers entering the market again will cause sellers to raise their prices.
So, waiting may not be the best strategy. You just might find yourself having “missed the boat” and paying a higher price.