I am planning to buy a house soon enough. Considering the real estate
is relatively down, I feel that it is a good time to buy. Still am
exploring options-- buying land and building a modular home. I got a
nice decent estimate, which does not include plumbing, electricity
etc.

Plus, I feel better that the technology has improved over the years
and it will be a new house.

Would it be cost effective to bypass the advantage of buying during
this time (buyer's market)? I personally feel yes, since the market is
down, other things like cost of building modular homes etc too would
have got affected because of the same. Hence even if I get a modular
home I am benefitting cause of the market.

Also what would one say to the idea of modular homes. Do they have
good resale value? This is not just a means of investment, but a
primary residence.