Do you see a bottom for the housing market?

[jimmylin007]

Sales of existing homes fell by a larger-than-expected amount in April while the median price of a home sold during the month fell for a ninth straight month as the troubles in the subprime mortgage market acted as a further drag on housing. Do think the real estate market is nearing a bottom?
http://www.msnbc.msn.com/id/18863431/

[kigray]

I am in the Austin real estate market which so far has been ok. As far as the national real estate market I dont think anyone knows. I hope it gets better because the housing market is having a negative effect on the national economy.

[ShortSale]

Sorry to say, this market will continue until 2011 and it’s presently an old-fashioned stare down between buyers and sellers.

The realtors and mortgage brokers role is to intercede as mediators. Our job is primarily to educate and help those we can [or who want to be helped] and not to waste too much time in the process with those whose expectations aren’t realistic.

[Tony Sena]

Hey Shortsale, you don't think the election in 08' will start an incline? Usually things change only when something significant happens and that would be when I think something may spark up.

[ShortSale]

Originally Posted by Member_Relations

Hey Shortsale, you don't think the election in 08' will start an incline? Usually things change only when something significant happens and that would be when I think something may spark up.

Tim, the pendulum is in motion; it's like a slow motion train wreck.

Slow enough for us to talk about it, but too heavy for us to fight it.

As you may know, in judo you take advantage of aggressive force by giving way rather than resisting it.

[Tony Sena]

I can see maybe the nation as a whole taking to 2011 to fully recover but I believe many markets will start to see some type of recovery in late 2008 or early 2009.

I think the Las Vegas Real Estate market will rebound in early 2009, thats my prediction

[ShortSale]

Originally Posted by Tony Sena

I can see maybe the nation as a whole taking to 2011 to fully recover but I believe many markets will start to see some type of recovery in late 2008 or early 2009.

I think the Las Vegas Real Estate market will rebound in early 2009, thats my prediction

[ryanoneill]

Here in Minnesota, we are seeing a very modest recovery at some of the lower price points.

Overall, there continues to be a large number of short sales and bank owned properties for sale on our MLS here.

I do think it is going to take us a few years to get out of this funk.

There are a few agents on our team that list alot of REOs and there are quite a bit more coming "down the pipe."

Once we can get the employment numbers to improve as well, that will most certainly help the real estate markets out.