Buddy is a stats junkie and need a fix.

Thinking out loud here, a 3 bedroom, 2 bath ranch in Flushing sold for $112 a square foot in first quarter of 2005 (three years ago).

Now that same type of house is on the market for $105 a square foot. Rates are probably 1% lower.

Buyer gets the same house now, in an equally as strong community ( Flushing is Flushing, it will be solid forever) for around $200 a month less or 15% off.

Now come on! One house of this type is for sale in Flushing for $86 a Square Foot or $139,000. It sold in 2001 for $141 dollars a sq ft or $233,000. A very nice house in a great location in a very stable community.

I hate to go out on limb, but the bottom in most markets is here. Sellers of overpriced listings will not agree and will feel pain, I am sorry but it is reality. But if I am a buyer, now is the time, period.

If I was buying I would get a free pre-approval through a reputable lender, the pre-approval should hold up, I think mortgage origination market has stabilized enough, and go shopping. Find a great agent that will dig out the best deal, not the nicest paint color, you can save thousands by being willing to repaint that pink kitchen. Buy less than you qualify for and do a 15 or 20 year mortgage. 15 year mortgage rates are in the 4.875% range or lower.

Do this now, settle in, and in 9 years thank Buddy big time as you will end up selling for $180,000 and owing $55,000.

Good, Fundamental investing in your future.