My feeling is you just got to keep your eye on the ball and keep looking for a home, putting offers in places you like at prices you want (hopefully reasonable, not $1 offers), and see what sticks. If something does stick, you always have the option of canceling.
There are folks actively looking for good deal and those that keep saying their waiting for “the bottom”, not doing anything, thinking thinking miraculously, the best deals will be given so obvious and fall out of the sky in their laps at that point. I’m not so sure about that. I’d say the former has a better chance of finding what they want at a great price, because being spoon-fed on a good deal is rarely something that happens.
