Make a move while market is down?

[Sean Gallagher]

I'm a first time buyer and have seen a decrease of i'd say 40,000$ in this property value around here, Theres a house for sale and I think if I bought and held it for a year or two the return could be pretty satisfying. What do you guys think about this? When the market was good i think it would sell for 160-170 easy, now its down to 120-130k, suggestions or comments please?