Buy now, or wait for a market crash?

[Richard Hadley]

What is the concensus? Right now the real estate market is hot, and properties are selling way over value and when something is available for a reasonable price it is snatched up instantly. It appears that the high sale prices are not stopping people or investors from buying, so my question is, is it wise to buy a property at an inflated price which in turn makes it harder for the numbers to work, or save my money for when the market turns, and properties are being sold at a reasonable price?

[Joe Villeneuve]

You buy based on the deal.  It doesn't matter if the market is hot or cold, it's the deal that matters.  Now the market may influence the deal, but that's part of the analysis at that time to see if in fact you have a deal...and not just an available property.