Well, I’m trying to buy right now too. Part of me worries about pricing continuing to go up, and part of me worries about the double dip. Overall the consensus seems to be that prices will likely go down some more before they’ve totally bottomed out, but a lot depends on location and the type of property.
I’d say that if you were able to get 2003 pricing then you’re probably OK for the long run. Could you live with it if the value of your townhome went down 10% more in the next year or so? Are you planning to be in the property for several years? Would you prefer to live there than the rental that you have now? If yes to all of those, then buy.
