Is it time to buy yet??

Yes! Especially if you are planning to stay for 5 or more years. A few years ago a 3 bedroom home in this area was generating multiple offers (bidding wars) in the $400,000 dollar range. Now, 3 bedroom homes for sale in MLS that are owned by banks and home owners alike are readily available for $300,000 or less! It only makes sense to buy now. Sales are taking place right now and great prices are being awarded. I believe a good buyers agent can help you purchase a home now at a price that is at or below today's market value and it will reflect a price that will be so close to the elusive market bottom you will be pleased you moved when you did. Remember there is no real market bottom, there is just a perception that a market bottom will appear someday. When it does, not only will you have missed it, you will be engaging in a bidding war and paying well above what you could pay these days, while the media and market is still on your side! So, saddle up your horse and go buy your family a home while the prices and rates are low.