[quote=mGanders]I can refute to some extent through personal experience. The simple fact is that sales prices are set by the owners of the homes, not the market comps, not the realtors, not the foreclosures, and not the interest rates. We finally bought a place and got it for 25% less than the sales price of a similar home next door. This happened because the children of the deceased owners wanted to get rid of the home quickly, and set the price to do so. Deals will be out there in two years, but they are also out there right now. If there is even a slight chance you can afford a home in an area you like, I recommend you continue looking diligently. The only way you are sure to miss-out over the next couple years is if you sit idly by and wait. Like the earlier poster said, things will work out the way they are supposed to.[/quote]
