| There is good news for everybody, it appears that the | | | | numbers associated with the real estate market are |
| real estate market (which is the catalyst of the current | | | | trending upward too. For example in Utah during the |
| downturn) is nearing a bottom. It has to bottom at | | | | last half of 2008 the average number of days a home |
| some point, economies and markets are cyclical after | | | | had been on the market was about 100. In January of |
| all. Granted this downturn is worse than most, we still | | | | 2009 the average number of days a home had been |
| have been through this before and we will get through | | | | on the market decreased to about 75. Thus, indicating |
| this one. The fact that this one is relatively worse | | | | that buyers are slowly coming back to the market |
| simply means that the relative opportunity is better. | | | | because the inventory of unsold Utah homes is |
| There are amazing deals waiting to happen out there! | | | | decreasing. After speaking with a friend who is a Utah |
| A notorious bear Dr. Mark Zandi the chief economist | | | | Real Estate Agent with Keller Williams, I am starting to |
| of Moody's said "the bottom of the housing downturn | | | | see the turn around first hand as he is starting to get |
| is in sight for the nation." When bearish economists and | | | | busy and has some deals under contract. |
| media pundits are saying that the bottom is near, the | | | | On a national level home prices are leveling off and |
| bottom is near. Much of the issue with recessions and | | | | some of the hardest hit markets are showing relative |
| downturns is that it is a lot of psychology. When day | | | | positive indicators month to month. The Charlotte |
| after day Americans hear record foreclosure rates, | | | | Observer wrote a piece titled: "Investors targeting |
| and home values plunging then of course it is going to | | | | bargain real estate." Again this is very good news as |
| get worse. We stop spending and start saving which | | | | investors will get back into the real estate market |
| is simply a consequence (neither good or bad) of living | | | | before the average home buyer. Investors are looking |
| in a consumer oriented economy. | | | | to take risk in return for reward, average home buyers |
| However, we are not only hearing good news but | | | | are typically looking for security. |