Absolutely. Market conditions are great for buyers right now.
I would respectfully disagree with some of the below responses right now and say that it's not a question of WHETHER to buy; it's more a question of WHAT to buy (i.e. what you want to do with it)
If you're buying something as your primary residence, then you will have less trouble. In that case, the thing to figure out is whether you want a co-op (more restrictions, more complex interview/application process, lower closing costs), or a condo (easier to rent out to a tenant, easier to purchase, fewer in Manhattan, higher closing costs). If you're buying an investment property and want to put a tenant in there, you need to make sure you buy the right kind of place that will allow that.
All that said, I'm guessing you're looking to buy a home for yourself, not something you want to rent out.
A 710 credit score isn't off-the-charts (as far as lenders are concerned these days), but it's definitely respectable. If, for some reason, you have trouble with a conventional bank, there are plenty of other entities that can help--like credit unions and the like.
Frankly, I think anyone with the means to buy is CRAZY not to buy right now. If money were no object, I'd be buying Manhattan real estate left and right. If I hit the Powerball and suddenly had a lump-sum $150 million payment, a third of it would go directly into real estate transactions.
But that's me, and that's because I'm a licensed real estate agent (with Prudential Douglas Elliman), and I specialize in first-time buyers, HDFC properties, and foreclosures. I've also taken enough real estate investment intensives to make me very, very aware of a) the fact that these market conditions are unlikely to come along again for decades, if even in our lifetimes, and b) how to analyze a property and find a great value.
Also, remember that working with an agent on the buyer's side is free; the seller pays the commission. So you basically have someone doing the work and due diligence for you, negotiating your side of the deal, and then getting paid by someone else.
Would love to talk further if you need some help. I don't like to put my personal information online, but I'll send you everything right down to my NY real estate license number if you want to email me directly.