I am sorry but there are NO bargains available right now. they are bargains when looked at relative to prices from two or three years ago, sure. but those prices were utterly insane and totally out of wack. prices will only drop in nearly every market in the near future. unless you live in San Fran or some such place, its almost a guarantee that prices will drop. inventory is huge, and banks and real estate companies are desparte to stop the blood letting.
i would wait for AT LEAST a year before buying. things will only favor the buyer more and more in the coming months in my opinion.
of course i could be wrong, but thats how i see it.