Rich:

So true.  If I could accurately predict where the market is going to be, I wouldn't be working. 

Rich, your point that the rental market will strengthen as mortgages become harder to get is well taken.  Rental units may continue to rise in value even as home sales taper off.

Great thoughts. You're 100% right. Real estate is just like the securities industry, and that is an effective way to increase your holdings while bringing up your long term profit.

I hear an echo!  Great post, Rich.   While my market area is a bit different (I just completed a CMA that included three recent sales selling for more than list price) I agree.  And I'm right there with Bill, too... always looking for that crystal ball!

You make a great point. Let me add one thing. Interest Rates. If you have a fixed cost that you expect to pay,the amount you can afford to pay for the property will go down as the rates go up. I say buy now or think about it forever.

For my area, North East New Jersey the question may not even be valid anymore.  In come towns we are seeing prices improve and days on market fall, though not to levels we would like to see them, but 10 or more fewer days on market does make use feel a bit better.  At most we have seen about a 2% or 3% price drop over the market highs of 2005/2006 so a very insignificant amount over the long hall. 

At this point waiting in North East New Jersey means you will pay higher prices and have a higher interest rate on your mortgage, so why wait.

Rich, I just did a post on this. I used cow farmers as an analogy.

Rich,

Thanks for giving me a good explanation for my clients of why now is a good time to buy if you're an investor. 

Fran

Rich, this is a well written and easily understood post on cost averaging.  And I paid $10.99 for that crystal ball!  Keep the good posts coming.

Rich,

You've got some great information throughout your blog!  I'm tippin' my hat to your wealth of information!