Once the bandwagon has gone by ...

... it's too late to jump on. If you're one of those folks trying to 'time the market' and decide if this is a good time to buy real estate, then consider this a sign.

Yes, we are in a buyer's market. No, this market will not last.

Just to put things in perspective, in the Dallas 75230 zip code:

the average sales price has fluctuated between $820,000 and $880,000 over the past year. Monthly headlines shout about how prices are down 2% or up 4%. That isn't a huge amount. The big news is that they have dropped at all. We typically see a single digit rise in prices every year (3 to 8% depending on the exact neighborhood, age, ...). After this downturn, we may see period of double digit increases - especially if mortgage rates stay so low.

So if you're waiting ... don't wait too long. The good opportunities may be gone. [where: 75230]