Decline in real estate and foreclosures signalled the start of the current economic downturn

So is now the time to buy and hold untill the prices rise again?
It's a good practice to buy when prices are low, and wait for them to rise again before you sell. even if you are buying real estate to hold, now is the right time to close in on a big bargain.
Back in november, many people started claiming that the prices of homes are no longer in a free fall, though we continue to see many foreclosures. or may be this are just early signs of consumer/buyer confidence coming back and possibly a recovery. Though the latest figures I saw just before christmas, say the housing prices are still falling.

So if you wanna cash in, what do you do now. Right now, there are a lot of foreclosed properties and many people trying to sell their homes and the only thing that may prevent you from buying right now is the feeling that prices may fall further. Top world economists are not helping things by saying that the only time we should expect any recovery is in the later part of the year.
Later part of the year means atleast 6 months to come, and by what we have seen in the recent past, 6 months is a lot of time for so many things to happen (i.e prices to begin to rise or for them to fall sharply).
So if you are looking to make a quick buck by buying and flipping a house as soon as there is a bounce back in price, then hold on, just dont buy that house yet. Prices may fall again. But if you are looking to make a long term investment by buying and holding a property, then the time is right, you will surely buy at a bargain.