Are you watching the market to see when it will reach the bottom? Are you watching the mortgage rates to see when they will hit bottom? If this is where you are, let me suggest that you first of all get a piece of paper and pencil, start drawing a line down until you think the market is at the bottom. Did you find it or did you run out of paper? Now we can do the same with the interest rates. Did you find the bottom there? When I decided to do this exercise it became evident that most will run out of paper (time) before they decide to stop. So the story is that your chances of missing the bottom is at best 90%. So please allow me to share with you some thoughts about the markets in general. I know you have heard about supply and demand. Comparing Jan 2006 inventory of homes on the market to Jan 2009 the inventory is up 7%. The average sales price for the homes sold were down 32%. Now you know where the market is but the question is where is it going. I must say many of the properties that were sold in our area that caused the average sales price to decrease were distressed and Bank Owned properties. The problem is the difference in work needed to make those houses liveable. That has brought the sales prices of some very nice homes down and has created a strong buyers market. What that means is you can get more for your money today than you could back in 2006. Consider the stimulas package that is to be signed today. It has a first time home buyers credit of up to $8000. The interest rates are as low as most of us have ever seen. The inventory is very good. So again the question is; What are you waiting for? Oh one more big deal, If everyone were to catch on and see things as they are and begin to buy do you think you will catch the market at the bottom or do you think you missed it. I will answer that question for you, You missed it. I hope this has been of some help to you and if you would like to discuss it further please contact me through my web site.