OK, well, I do believe "its always a good time to buy" but I will probably make Buylowsellhi happy because I agree with him, mostly. I think that often the best deals happen in Winter. I went into escrow on both of my homes in winter. I agree that the Sellers who are still on the market in the winter are the most motivated to sell for a variety of reasons. I believe that, as happened last year, a large percentage of the preforeclosure homes currently on the MLS as short pays will end up as bank owned foreclosures and be in the market by winter, driving up inventory as buyers get busy with their holiday activities and set aside house hunting until the 1st quarter. The only thing I would say is that interest rates are questionable if you make this choice and we have all agreed that if interest rates rise, prices will fall. This is because it is about affordability and that will be the same for you. So, if you choose to wait, and interest rates start to rise, you will have to suffer that part of your choice. All of this considered, you should be looking now. It doesnt cost anything to look. It doesnt cost me anything to set you up on an MLS Alert that sends you properties specific to your criteria. By monitoring, you will get an even better feel for what neighborhoods seem to be always "on sale" like the one you mentioned in TO and what neighborhood occassionally post an opportunity. Also, set your price range based on working with a lender and go only approx 20% over on your "looking" price range so that you stay on budget. I did this last year with a buyer who was deterimed to stay under 500,000 on a home in her criteria. When we first set her up over 1 year ago, there were fewer than 10 homes that even met her criteria and all were areas that were unacceptable. In the last year, she has recieved over 400 homes in her criteria. We have written offers on 2 bank owned properties, at more than 10% off and neither of those offers was accepted. So, here are the things to take away from this experience. One, Bank owned properties that are priced lower than comps to begin with wont usually accept a large percentage off offer. Two, if you wait for the homes in your critieria to become available you will, in this market, probably find that it does. Three, you'll be seeing it as it happens without searching for it. I have another buyer who has waited as long as you, renting, and I have worked with her for over 1 year. Again, working within her criteria. At first, almost no homes. Then little by little lots of homes she considers acceptable. She is a savvy buyer who has been watching for a deal and knows one when she sees it. So, yesterday, we see a house, a BK homeowner in TO, and priced at comps but the condition and location is fantastic, the home fits the buyers criteria perfectly and the price is in the buyers budget. The buyer is prepared to make an offer that will rival others, she will offer about asking. Sounds crazy? Not really one of the pricing tactics is to price low and generate so much interest that there are multiple offers. Anyway, Sabine, if TO is your area, not Malibu, I hope you will contact me directly. I grew up in TO, went to TO High, my family lives in NP. I dont know the first thing about Malibu, I can get lost finded Neptunes Net most of the time but I know TO. Whatever you decide, the very best of luck to you, you have sparked an awesome blog. I have a lot of buyers who want the deal that will make their friends cry. I'm with Dot on that, I love it. I hope you'll love whatever you choose to buy.