We don't ever really know the peak until we have left it and look at the downward trend. Even the best of the best cannot time or predict a market perfectly.

How long will you be in the property that you intend to purchase? If you see yourself in that home long term, then I would suggest looking to buy now. If you see yourself there for less than 2 - 3 years, perhaps you can watch the market for a while and determine what is your best strategy.

Mike,

I would take into account all of the Market Conditions in your area. How is the economy? Are barely peaking, then the best advice would be to wait. We still many Adjustable Rate Mortgages coming due and the foreclosure rate is sure to rise in the next 2 years, read the market if you can and try to watch how far it falls. Consult a Realtor if you have one, if not, I would be happy to help you find one. You can easily track what is going on by reading the local paper and tracking home prices, as you see the drops, you can gauge what is happening. By tracking the prices you can get a clear picture of the best time to buy.

Good Luck,
Ken Herrera
Century 21 Infinity http://www.C21Infinity.com