Have you begun to see the light at the end of the tunnel (otherwise known as 2008-2009)? Based on the trends over the past six months and what the projections are for the upcoming six months it looks like the worst is over. The residential markets are seeing more activity, inventory levels are dropping and prices seem to be stabilizing.
I'm no Carnac the Magnificent but I have a pretty good feel for how the market will react. The first quarter of 2010 should remain stable with the Homebuyer Tax Credits of $8,000 for first-time buyers and $6,500 for move-up buyers fueling the surge. Once the tax credits expire (April 30, 2010 is the deadline for being under contract) we should see a slight seasonal uptick. What does this mean to you? At some point the prices are bound to start going up. Interest rates are at historic lows hovering near 4.75% and prices are at "OMG that's a great deal" levels.
This should tell you something. Don't kick yourself in the butt 3-5 years from now because you didn't buy your first home, a move-up home or and investment property in one of the greatest buying opportunities you will see.
I'm telling you now: DON'T WAIT!
