If you've got a good job then don't wait too long to get qualified to buy a home or investment property. An increase in interest rates can affect your buying power more than an increase in sales prices. For every 1 point of interest increase you lose $50,000 in purchase ability.
If you plan on staying in your home for more than 5 years then no need to worry about a slight decline in sales prices. It is a buyer's market right now. Prices and interest rates are at an all time historically low point.
In South Orange County CA, you can buy a single family home under $400,000!! and a condo in Laguna Niguel for $200,000. We haven't seen those prices in 10 years. It's harder to get a loan these days, so first step is to talk to a loan officer and find out exactly how much home you qualify for. Second thing is to get hooked up to my automated homesearch to see the newest listings on the market, so you can be one of the first to make an offer.
Email me with any of your buying questions. Let's get started ;-)
Discount Real Estate Brokers, Sellers List for 4.0% Total Details @ www.movetosocal.com
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