Jose,
The answers are yes and no respectively.
Yes the problems in the secondary mortgage market have affected home sales. There are fewer buyers and just as many properties on the market. Prices have not gone down though, and according to most professionals including myself in this field we don't expect them to. The good news is that they are also not rising at a rapid rate. However most properties are rising at a rate of about 7% which is more than most peoples income will increase. Which answers your second question.
No you should not wait. (refer above)
If it helps you any I just bought a new home in Alamo Ranch and sold my old one (in four hours) in January. My wife and I are both in the business and decided it was time. We see home prices increasing and lenders getting harder to work with (she has been in the lending business for 20 years).
I hope this helps you. Please feel free to contact me with any other questions.
Tom Phillips
Realtor®
Keller Williams Realty
San Antonio, TX
210-857-2375
tomphillips@kw.com
http://www.tomphillipsrealtor.com
“Experience Makes the Difference”
- Tue Feb 5 2008, 18:43