Buyers ask me this question often.  The answer is simple - "when no one else is".  Right now, while everyone is sitting on the fence wondering where the bottom is, shrewd investors are out there, making offers, some unsuccessful, but some are picking up good properties at 2006 prices!  Consider that right now is the time where conditions are perfect for buyers:

1.  We have seen a signifcant price correction in the market.
2.  Your choice of homes could never be better.  Right now, we have a 28 month supply of attached properties, and a 40 month supply of detached properties on the Westside.  This inventory will surely shrink in the coming weeks.  Those of us in the trenches see it happening shortly, as some clients are telling us they will pull their properties off the market.
3.  Interest rates are still fantastic.
4.  Sellers are more willing to negotiate.

Even if we see prices soften a bit more, one has to remember that no one can time the market.  Remember that real estate is a long term investment.  You don’t wait to buy a home.  You buy a home and WAIT.