Trying to “time” a real estate market is not the best idea. Too many variables are involved. Real estate experts say the average price of a home will decline by 3 percent in 2007, but that average is for the entire country, not necessarily your home town.

Home sales are often triggered by the events of life such as an employment transfer, an increase in family size, a death, a divorce, or a pending foreclosure. These homes are available now, and people want to sell as soon as possible. Life’s events are more likely to produce a favorable selling price than national statistics predict.

The best time to buy a home is when you are ready to do it. That means you have access to cash for a downpayment totaling at least 5 percent of the selling price. An adequate downpayment will bring a lower interest rate on your future mortgage.

Getting ready to buy includes checking your credit to avoid errors on your credit report and visiting a bank to determine how large a loan you will qualify for.