the difference between a 5% and 6% interest rate or 4%, when you are looking at buying a house that s declined 40%, 50% or 60%, you are probably getting a deal. if you have a stable job, cash in the bank to satisfy the lenders today, if you can do that, if those are the things where you will be for five to ten years, go out and buy a house. there are plenty to choose from. half of folks admitted they would like to buy a fore closed property. who do they need to be careful about? they fall in love with the deal and don t check the price. they overvalue a discount property. the other is they tend not to fully anticipate what it s going to cost to fix the property up to the state they would like it to be when they live in it. those are two gotchas you need to watch for. when you say you want to sell a house, you say two things.