Property, unlike stock is not a liquid investment. Meaning even the market price for certain property had drop to certain level (based on transaction record), doesn't mean u can get it at that price. Unless there r lots of house owner a.k.a speculator in serious financial problem, they may choose not to sell. In the end, there may be just a few transactions going on at the lower price. Eventually you ll still have to pay a higher price in order to close the deal.