Like today's stock market provides excellent opportunities for investors in it "for the long haul," today's real estate climate appeals to buyers with long-term expectations. The more buyers take advantage of current conditions, the more prices will eventually begin rising again.

Areas where buyers are entering the fray again are well poised for recovery, and it's possible that the prices are finally bottoming out. The recently enacted housing stimulus bill is helping too, as over two million first-time buyers are predicted to take advantage of the new tax credit.

In 2009, those markets with affordable housing combined with healthy local economies will continue to see growth. We won’t know when the market has hit bottom until we look back as prices are rising. The signs of recovery will include a reduced number of houses for sale, a shorter number of days that a property is on the market before going under contract, and a reduction in the difference between the list price and the actual sales price.

Call me for more information on our local market statistics.