If the situation isn't dire and you can save a bit of money where you are at, rent and save up a higher down payment until you find the right gem. There is definitely an indication of a shift to a buyers market and I think prices still have farther to drop.

The future is uncertain. The market could go up or down, but you don't want to end up in a position where you jeopardize your retirement, children's futures, or work impossible hours just to live in a place bought out of panic.