The longer you can wait the better… if you could even stick it out til the fall of 08 you will be better served then the spring of 08…
One thing to think about as well, which in my mind may be important but in others not so… the financing situation. If this is a long term investment then you need to analyze the long term financing costs of the home. What I am getting at here is that a difference in pricing over a long period of time should be analyzed against a difference in financing over that same period.
I don’t ever disagree with the thoughts that a lower price home at a higher rate is better then a higher price home at a lower rate. This is true because of refinancing possibilities in the future and less risk of depreciation when you buy the lower price asset. Still, there is something to be said for running the numbers out if you think that over the life of you owning the home, the interest rate climate is not going to be lower.
