Last Updated Oct 1, 2009 3:16 PM EDT
Now, we have a maxim in the real estate industry that property is one of the few things that people don't like to buy when it's on sale. I think some buyers feel the same way about a sense of urgency. The same people who would drive to the grocery store to get a Sunday special on a ham don't want to hear that they really ought to be buying a house in November. However, if you can snag the $8,000 tax credit (it phases out as income rises, so singles who make more than $75,000 and couples who make more than $150,000 in adjusted gross income aren't eligible), you should.
If, on the other hand, you're in the starter home niche but you're not a first-time buyer, it might make sense to wait until November to make offers, because you'll be facing less competition that way.