Contrary to what the media keeps telling everyone, NOW is the time to buy real estate! Right now home buyers can get much more house for the same money.  Interest rates are still low and there are many first time home buyer programs to help buyers get their mortgage.  

FHA is lending money and has some awesome deals right now.   Right now buyers can get FHA loans with money back at closing to do repairs.  It just doesnt get better then this!

Even if you have a home to sell first it is still a good time.  While you may not get the huge profit on the home you sell, you will get a great deal on the one you are buying.  So in reality you are still coming out ahead because the home you buy will be much more house for the money.  If you ever wanted to go up in the size of your home NOW is the time to do it.  I have talked to many home owners who want to move but are waiting "for the real estate market to go back up"  What they need to realize is when that happens the home they want to buy will have also gone back up.  So even though they might be able to sell their current home at a higher price they will also pay a much higher price on the home they want.  

People also need to realize that not all markets are doing poorly.  In my market, Licking County Ohio, homes are still selling and in fact our real estate sales are up from last year and they expect real estate sales in 2008 to continue to rise.