That is, buyer beware of trying to time the bottom of the market. As we all know, plenty sellers who tried to time the top of the market really missed the boat.

We will all look back at October and November of 2006 as one of the best times to buy in the last ten years.

Seeking examples? Look no further than the property at 232 Bird Key Drive. SKY Sotheby’s agent Heather Dunhill is marketing this fabulous bay front estate for 3.9 million. This price is a 2 million dollar reduction from the previous asking price of 5.9 million established earlier in the year by one of the most respected agents in the marketplace.

The window of opportunity is here, take it.

Formula for successful purchase:

1. Identify 2 or 3 suitable choices
2. Don’t be fooled by list price as many sellers are willing to negotiate from list price but do not want to broadcast their motivation
3. Ask your agent to prepare a market analysis using comparables from the last six months.
4. Write an offer based on the market data your agent has provided
5. Be prepared for an unacceptable counter
6. Try again as the second go round seems to be the time where most sellers come around to the fact that they should seriously consider the opportunity to sell.