Don't believe a single word that comes out of a real estate agents mouth except for their name-they lie for a living.
Time in the market is more important than timing the market
Think long term-areas that are not desirable now may be highly desirable in 10 years time.
Pay off non deductible debt (ppor) asap.
Cut back where you can but at the same time enjoy life and treat yourself
Ignore doom and gloomers-they are forever miserable and no crash will be great enough, no bust deep enough, they are forever bound by fear.
Above all trust your own judgement and use your brain. Much of what you read is crap. Attend opens, visit the shopping centres etc, you will soon get a 'mood of the meeting'
Think outside the square-buy the house you want to live in, rent it out and have someone else pay it off for you, pick up tax deductions all whilst also smashing the debt while living with your folks etc