If you waited in 2008 and seriously looking in 2009 this might just be your big break. Realtors are busier than ever and I have seen bidding wars spur up. The bottom line is buyers know the opportunity is here but please don't wait long. As a wise man once said, "having no plan is a fool, having a plan with no action is a worse off fool."
Under the new stimulus plan, the incentives to buy are of the essence. The $8,000 tax credit ends on December 1st therefore with closings typically running 60-90 days September is the month where you should have your offers in and getting them accepted.
There is a buzz about a second stimulus plan that is being set in place for the creation of jobs. http://www.debtkid.com/2nd-second-stimulus-checks-could-be-coming-soon