Thanks for everyones knowledge. First of all my wife and realize that falling prices from todays price point are a possibility. We are cool either way as we will not be moving any time soon. ie 15+ years. We sincerely wanted to know how big of a hit 4S has yet to take from the loss that this area has already suffered? I know that none of you can predict the future, but it does seem like a lot of you have a genuine grasp on what the market has the potential to do. Now for the good stuff. We didn’t steal the house but feel as though we bought low enough to be able to see a return on our home within 15+ years. The story: We have been on the Dave Ramsey path for two and a half years. As bad as it sounds, we moved in with my wifes parents and payed off ALL of our debt. From that point we saved 6 months of emergency fund. After that we saved up our down payment which was only about 10%. I used my VA benefit and got approved for the loan with a fixed 5% interest rate. NO mortgage insurance thanks to VA. Yeh! We did have to pay a funding fee of about 8500 which we tacked on to the closing. Just had to save a little more. The house was listed at 668300. Like I said we put 10% down plus used the 20000 dollar incentive against the price of the house as well. Not only did they give the 20000 dollar incentive, but they also threw in stainless steal appliances, granite, upgraded stairs(all stained), windows in the garage doors, tiled all wet areas, and turned the 5th bedroom into a loft for us. It came out to like 205 a square foot. We aren’t millionares, but we are tight with our money. We would rather have paid off cars and a mortgage than the other way around. We don’t care about a benz or beamer. Thanks again for all of your market predictions!!!