People are very interested in identifying the bottom of markets. Some bottoms are easier than others to predict and/or to realize. Clearly the stock market, with its technical levels tracked second by second is easier to get a handle on than a local real estate market. Typically we don't know that a bottom is formed until it has passed. I know one thing for sure; if you wait for the absolute bottom of our real estate market, you will miss out on an amazing, likely once-in-a-lifetime opportunity. We now find ourselves in a "perfect storm" time to buy! Pricing and selection of quality homes is as good as I can ever remember, and interest rates are at historical lows. These are not factors which will last forever. And don't fool yourself into thinking that everyone is waiting for lower prices or better interest rates. On Longboat Key alone there have been 56 homes sold and closed since January 1st; there are an additional 45 homes pending closing. Couple that with a decreasing inventory….right now only 7% of Longboat Key's available inventory is for sale.