When's the Right Time to Buy?

According to Money Magazine, it's when the market is starting to improve.

Signs to look for, says the magazine, are:

• declining inventory (preferably under 6.5 months of inventory on hand)
  
• houses selling faster
  
• Realtors opinions of local market conditions growing more favorable, and
  
• signs that sellers are less desperate (fewer incentives, homes selling closer to asking price, etc.)
  

But regardless of the economy, says Realty Times, the best time to buy is when you are ready:

• You've found the home you really want
  
• It's affordable
  
• You can get a reasonable home loan
  
• The home will serve you and your family for years to come.
  
• You're not looking for perfection. (No home is perfect.)
  
• You've given up trying to "beat" the market.
  
• You're comfortable with your compromises (location, size, price, features, or condition)
  
• You're confident that the home you selected is desirable enough that you will be able to sell it in any market.