1. Always invest for the long term.
2. Buy on the way down, you can never pick a bottom
3.Sell on the way up, you can never pick a top
4. Remember rule # 1
Good luck, this is a great time to acquire real estate!
Buy low and sell high. You've heard it. And you'll hear it again and again.
In a soft market you already know you have to sit on your investment. Is it smart? Well, what rate of return will you want and how long can you wait? I'd look at the historical numbers in the area you are interested in buying.
What appreciation did they experience in the best of times? The worst of times? What market do you intend on buying in - upscale, middle, or first home ranges?
So - yes it's smart to buy - but it's smarter to do the homework and know what you are looking to gain.
edjucated yourself about the area and if it has potential to come back soon or will it always be the "last"
In general, it is a great time to buy right now.
but rule #1 location, location, location