Buy now because interest rates are still low and prices are low. If you wait, prices may go a little lower, but you will lose the price reduction by paying a higher interest rate. Look in college towns where you can rent to grad students. Charlottesville is great. I would have to do some hunting to find a $150K condo, but if it exists, it would be a GREAT deal! Best of luck....

Vj- It's a great market here in the Phoenix metro area to buy and hold. If you ever are looking in the Phoenix area, be sure to let me know and I can assist you with all you real estate needs.

Smith Mountain Lake, VA. only 4 hours drive from D.C. The best deal on the lake!! Beautifully re-done condo w/ beautiful view of the lake. Unit comes completly furnished .Great Get a Way property .No grass to cut or exterior to worry about! Adjoins Sportsmans Resaurant and is so close to Smith Mountain Lake State Park! I promise you can't find another like this with these views at this price! Complex has inground swimming pool and boat slip rentals available too! Don't miss out....Call Edna Jamieson,Realtor,ABR, Lakeshore R & S, 540-520-0168. Free lists of all properties for sale in the Roanoke Valley area. Contact Edna at edna@smithmtnlakeproperties.com .
http://www.smithmtnlakeproperties.com
EOH

This is definitely a buyer's market. Be sure to check out Hawai'i where real estate just keeps increasing due to great demand and less available properties. For further information, please email Eire02@aol.com

VJ,

It depends. Are you planning on renting it? If so, you need to find out what your cash flow will be. Positive or negative. If it is positive, then its a good time to buy. If not, I wouldn't do it. Or, are planning on rehabbing and flipping it? Then, you need to ask, can I make a profit in my local market when I resell it? If not. Stay away.