Well, 2009 is going to be a fantastic year in real estate. In fact, there will be more millionaires made in real estate in the next decade than currently exist in the country.
Why is it such a great time to buy? Selection is plentiful and prices are reasonable. A good agent can identify the housing values in any market, but with so many more now, ANY agent should be able to. If you're considering a purchase for investment or personal use (either as primary or vacation home), I highly recommend you get your financing in line now and start your search before prices head north and selection begins to tighten.
If you're selling, it's a bit of a challenge, but a good agent with the right tools and experience should still be able to get your house sold - it just may take longer than it would have 3 years ago. The bottom line is that people are still moving into and out of most areas, so real estate is still moving. Of the buyers, there are some who will hold out for the bargain basement rehab project homes, but there are also buyers who don't have the time, money, energy, nor desire to buy something that has to be "fixed" before it can be occupied.
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