Is this your first home purchase?
If so, look at houses for at least 2 months. Don't jump on the first house that is in your price range or is somewhat what you are looking for.
Don't let anyone pressure you into buying any home...."well we have to move fast because this house has 3 other pending offers." Regardless of the housing market conditions, there is ALWAYS another house just around the corner that is for sale.
Never get into a bidding war.....no house is worth getting into a bidding war over, even if we weren't in a horrible housing market.
When you find a house you like, write down the things you like about it, the things you don't like about it, and how flexible the layout is for things you would like to do in the future (expansions, home theater, gym, stripper pole etc
). After you have done this, then go back and look at the house again a few days later and see if you still think the same way about it.
Don't ignore "the little things." What you may disregard as a "little thing" that you don't like about a house at first glance is going to be something that you may have to deal with for years and years. Will it still be a little thing when you are looking at it or dealing with it everyday?
As already mentioned, get a good inspection and follow the inspector around the house and have him explain everything he is seeing.
Any major applicances, including the water heater, AC and heater, that are over 7 years old should be viewed as needing replaced IMO. Sure some of these items may last 10+ years but it is better to play it safe by knowing from the start how old everything is and when these applicances are nearing the end of their average lifecycle.
If the houses you are looking at are in an HOA.....READ THE HOA GUIDELINES before you commit to buying the house. Yes, it will be 100+ pages of crap but some HOA's are insanely strict and very anal about the smallest aspects of your home and how it must look at all times.