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1. Down market can be some of the best times to buy since there are more houses, flexibility pricing and attractive incentives to buy.
2. Have exit contingencies when signing the Purchase and Sale Agreement.
3. Read the contract thoroughly.
4. Have a home inspection. It's the best $400 investment in real estate.
5. Have a Pre-Approval to determine buying power and affordability.
6. Location, Location, Location. Rate a neighborhood through walkability.

Other factors that are important in assessing the sustainability of property's value in the region:

1. Low unenmployment.
2. High household income.
3. Diverse industries to weather local and world economic downturns. 
4. Research facilities.
5. Large or prominent universities.
6. Low crime rates.
7. Good public schools and parks.
8. Pleasing views.
9. Distinctive architecture and a variety of retail stores.
10. Educated population.
11. Foreclosed properties? Use this calculator to estimate the final tally.