Well if it's in NYC, don't worry about it because it will be worth twice what you paid for it in a few years. If it's in Florida, you're probably getting rooked.
The key in this market is to not buy in overbuilt areas where there isn't enough demand to justify the price. At the same time, you should always buy the most space/house you can afford. So if you can swing a 1BR or Junior 4 instead of a studio, I recommend you go for it.
Special "Real Estate Maven" Ed