My rules:
1. Location, location, location.
2. Don't timing.
Real estate price almost doubles every 10 years in the last 60 years. As long as you are in market, and you can hold your house no matter what happens, you will make money after a few years. Timing may save you $50K but may also miss $50K. The initial price difference is a small amount in comparison with $700K return after 10 years for a house purchased today at $700K. Timing of sale is more important than timing of purchase, I think, as long as you get right location.