This is a wonderful question, one that is asked in any market. It looks like you have a very good opportunity for a valued neighborhood. If you like the co-op and the deal, why not?

I don't have a crystal ball. Nobody knows what's going to happen exactly. There could be a better price. Or maybe not. Here are some additional questions to help you: How many similar units are in the area? How often do they come on the market? At what price? Bottom line - Do you want to buy, or do you want to look? Now is a good time to buy in most markets, assuming you will stay for a while. Anytime is a good time to look. Real Estate goes in cycles. What is the local cycle? 5 years? 10 years? Get a good buyer's agent to help you look at the local trends.