I know I'm going to get a ton of responses to this post saying I'm insane, but here's where I'm coming from. My local market was never really hit hard like the "bad" housing areas we hear about on the news. We didn't have the super boom like most had, so we didn't fall as hard when times got slow.
October and November '07 were really slow. Showing requests, listings, and closings were all down. However, my team mate and I have been having a record December and the pipeline so far for January is getting really really full. So far about 7 listings are ready for 2nd week of January, and buyers (without any SOP's thank god) are lining up quick.
I was at a local agent meeting (i.e- Bar night) and everyone else is talking about the "so-so" market. So, it seems that my team and others in our office are the only ones seeing this great emerging 2008 market because we're not talking ourselves into the bad market hype. I fully believe your personal view of the market dictates what your outcome will be.
So, for all the people out there worried about the housing slump going on, your fears will be your reality in 2008. For those that push through and decide to take a positive spin on a bad situation, your thoughts will be your reality as well.
Best wishes for 2008!