When is the best time to buy?

Answer:

Here are some frequently cited reasons for buying a house:
*You need a tax break. The mortgage interest deduction can make home ownership very appealing.
*You are not counting on price appreciation in the short term.
*You can afford the monthly payments.
*You plan to stay in the house long enough for the appreciation to cover your transaction costs. The costs of buying and selling a home include real estate commissions, lender fees and closing costs that can amount to more than 10 percent of the sales prices.
*You prefer to be an owner rather than a renter.
*You can handle the maintenance expenses and headaches.
*You are not greatly concerned by dips in home values.