Part 2 of first answer. Consider what stage you are in homebuying. Is this your first primary resident purchase? If so, consider your dream home, then consider out of that what you must have in the first home. Do want granite counters in the kitchen and bath with marble floors or is it really large rooms with a decent kitchen and bath with a patio to barbeque and nice landscaping in a quiet neighborhood that you want. Decide the specifics before you look and decide which things you can sacrifice the first time around. This will make your search for defined for the agent and they can narrow your search to only these homes and condos. If you need a referral to an experienced agent in your area, let me know.

My suggestion would be to weigh things out and evaluate your situation. Are you a busy person who won't have time to cut grass and trim bushes? If so, a condo/townhouse with a balcony would be better. If you love to landscape and have a slow to moderate schedule and house with a yard would suit you well. Both have added fees. A house has trash and sewer fees and a condo/townhouse has condo fees. Regarding waiting to see if the market drops, it's a gamble. It's dropped quite a bit already. It may drop more, it may go up.