If I can find my neighborhood at the right price I will buy. Six offers already, with one inspection failure, all but one I offered OVER the asking price, all I was outbid.

As of last night, working on acceptance of a short sale offer, supposedly already bank approved, but the buyer on hold for the last 135 days just dropped out.

Realtor has accepted offer and is forwarding to bank, for whatever that is worth……neighborhood I want at below current market. My decision, worth some short sale drama and losing $8000 first time homebuyer credit IF it works.

I have been watching the market for the last 4.5 years and right now believe it is a crap shoot, it really could go either way. This house (or any house I buy) must meet my affordability criteria, with that in mind, if it drops another 20% I am still ok, both mentally and financially.

I am going to turn to good ole American optimism that everything will be alright! I am financially stable (good job, low risk of losing), can afford a certain house, like the area, and ready to commit.