Don't try to wait for perfect time, you probably going to miss out a great opportunity. Don't get obsess with trying to time the market and figure out when is the best time to buy. Anticipate the housing market is impossible. Best time to buy is when you find your perfect house and you can afford it.
Pay for title insurance, make sure survey on this property is all right.
Bigger is not always the the option. Sometime it is best to buy the worst house on the block, because the worst house per sf always trades for more than biggest house. Remember this is your investment and probably you will like to resell in 5 years from now.
Avoid the cost of renting vs buying. A $1 invest today have more value than a $1 tomorrow.
Consider not only your mortgage payment, allow to have enough budget to pay property taxes, home insurance, repairs and maintenance.
Your are buying a house not marrying a house. Go by your instincts understanding that you are getting a great house for a good price. Be wise, getting emotional can lead you to a bad money decisions.
Bidding for a house should be based on what you can afford and what you believe the property price is worth.
Drive by the chosen neighborhood in the morning, another time by noon, see what it looks like and picture yourself living in it.