I am waiting about 6 to 8 months (renting) before I buy in east county. (Fallbrook/Escondido)
I am not sure if the bottom has been found yet but believe that a lot more foreclosures are coming on and will be comp killing along the way. Plus, banks will be trying to dump inventory in Oct/Nov to clean up books.
However, it is hard to pass on some amazing cherry homes showing up that fit my needs, but I am sticking to my strategy on this. (my GF is going bonkers but that’s another story). Most of the “cherry” bargin homes are pending in 5 days on market.
To answer your question… it depends. There are GREAT Deals out there NOW and loan rates are insane. There are also economic elements pushing housing prices down farther (I believe).
I think if your temperament is impatient, you could monitor a Sandicor Feed of your specs and snag a bargain as soon as it came on the market. (read: be a shark) and you would do very well. Or you could hold up until November and perhaps do GREAT.
