Real estate markets in the Northeast and Midwest appear to have passed their low points. Based on sales in those regions, prices are increasing on existing homes. The Dallas market, for example, is relatively hot right now.
The good news is that for us out west, that turnpoint is still ahead, meaning that great opportunities still exist. Based on current trends, it appears a turn around should arrive in the fist half of 2008. This will be a result of fewer homes on the market from new home sellers and sellers of existing homes waiting for a more propitious time to sell their homes.
If you are looking for a time to get a great deal on a home or property, the time appears to be close at hand. Augmenting this trend is the concommitant lowering of interest rates by the Federal Reserve Board!
Happy Hunting!