I agree with Dunes in many ways. I would like to add a few comments and sources.
When considering market value, make sure the sources you're using give you CLOSED or SOLD prices. Not listing or asking prices. The list prices indicate several things including how realistic the sellers are, the group of buyers who will look at the property, etc. The SOLD price is what the market (buyer) was willing to pay. It also shows that an appraiser thought the property was worth at least that amount (typically and if a mortgage was obtained). List prices only indirectly show the market trend. Too many people believe that the asking prices indicate where the market is going.
I would also add this valuable site:
This is the Corcoran Guides page. You'll find the well-known Corcoran Report and many other tools. Please don't think that I'm only offering this source because I work with Corcoran. I used this information long before I moved to Corcoran because it's accurate and easy to understand. The information is unbiased and verified through several places.
I would also like to offer that many of my contacts within the banking world all agree that interest rates will not go up any time soon. A strategy to jump start the economy is to lower interest rates. Currently, the rate is 0%. It is possible for a government to actually put the rate into the negative; however, that strategy was employed by Japan and Sweden (for foreigners only). While Sweden's "special case" worked, Japan's economy during negative interest has been described as a "nuclear winter." While this is not the forum to fully discuss the impact of interest rates and what controls/determines them, I feel confident that the rates will remain pretty stable (low) for a while. Don't panic.
With all of that said, no one can accurately predict what the market will do with 100% certainty. At the end of the day, all predictions are educated guesses. I suppose the trick is to find the opinion with the most education behind it.
I hope the above is helpful. Good luck on your search.
John R. Wuertz