Seems like you are expecting some additional declines, which would be consistent with my expectations for Phoenix. 60% of $50K would be only $30K.

Why the property manager verbally said that a move-in date as far as month from now is okay, but at the same time declines to execute a lease agreement soon, remains a mystery to me.

If the property is in an area with a Market Classification 2, 3 or 4, or the appraisal indicates the property is in a declining market: The reason for the increase in values will only be allowed if significant improvements have been made or the borrower purchased the property under a distressed sale or non-arm's length/at-interest transaction and the above requirements have been met to substantiate the amount of value increase for the market.

But in a declining market, you have to drop the price below the "market price" to sell anything.

Inventory levels decline and prices begin to stabilize and you missed an opportunity because there are now more buyers than available homes.2.

So, even if we see continued declines over the next 12 months, its a dollar cost averaging situation as far as I'm concerned.Not to mention, I'm seeing a slower pace of REOs coming on the market than a year ago.

Stockton is arguably the worst declining market in the State.It will in all probability continue to go down before it bottoms.

They declined for 25 years, and (IIRC, can't find an actual graph online) only in the last few years have started going back up.

With a 20% down payment, and buying in two years, you should be OK even if prices decline a bit more.

Decline?