I couldn't agree more with the fact that the time is right for buying real estate. Of course, location...location...location is the first thing to look at (and Donald verbalized that), and what better location than Lake Tahoe. There are many good buys right now in the Tahoe area. Take advantage of them today - they may be gone tomorrow.
He also addressed foreclosures, urging people that were about to face that situation to talk with their banks and work out a deal. Banks don't want the properties back, they want their money. Don't be so quick to give up. See if your bank will work with you.