Whether you are a buyer or a seller, just make sure you do your homework (as you are), compare with other homes on the market, take a look at what buyers have given for similar homes. In some cases, I'm actually seeing an increase in price because of "supply and demand."
Houses are selling!
It's a great market!
The First it the Economist that knows he can not predict the future.
The Second type is the Economist that doesn't know the can not predict the future.
That being said, interest rates are historical low, and the can't get much lower.
What I'd suggest--other than contacting a local Realtor--is to take a look at price trends in the past 12 months. Are there signs of a leveling off, or even some strengthening? Or is the trend consistently down?
Hope that helps.
When you find that crystal ball and someone whom you trust to read it, let us all know the outcome.
We wish there was a way to be sure that prices had bottomed but, there are still a lot of Short Sales on the market and more Foreclosures popping up every day. Unfortunately we won't know where the bottom is until prices begin to rise again. Linda