The article below has 6 trends to keep an eye on. Although they are all good tips the most important in my opinion were that even though you can get a distressed property 30% below what normal sellers are it can come with a lot of hidden costs as I have mentioned in the past. Make sure to hire a great home inspector. As far as the part about competing against cash buyers, consult a real estate expert with regards to that.
The other is low interest rates. I know I sound like a broken record when it comes to this but it is true. Rates will go up and the low rates right now can help to offset part of a decline in property values.
And lastly, condo financing is tough. Make sure you deal with a mortgage professional who not only is an expert but will do the due diligence upfront that can save you money.