- Now is the time to buy! So stick to your price and play hard to get. You have the luxury of waiting to capture the better deals and then negotiate your terms. If you drive around your area, you'll see that there is six to eight times the inventory on the market right now as there was a year ago, and homes are taking longer to sell. Take your time, make smart offers, and stick to your guns.
- If you're an investor, target markets where speculation has run rampant over the past few years while also focusing on markets that are likely to boom in the next few years. You will be able to buy distressed properties at low prices and properties with tremendous appreciation potential at the same time.
In general, the common sense rules apply whether you're buying or selling and whether the market is hot or cool: educate yourself about the market, have specific goals in mind, understand what your financial resources are, and don't make any deal for the short term. In the long term, real estate is always the best investment around.