Kenneth Harney wrote an article for Realty Times about the possible changes that could come about in the real estate market depending upon what actions the new administration and Congress take in the near future. He indicates that if foreclosures are greatly reduced then the real estate market is likely to start returning to normal. The article is pretty interesting and you can read it by clicking on the link below.
By the way – those of you who are looking for the market bottom should know that we are starting to see multiple offers on some well priced properties. We called for a client to get information regarding a short sale property and learned that they already had 10 offers. Remember, we will only when the market bottom is until we have passed it.