How many times have you asked that question and been given a long winded non-committal answer? I have heard a lot of them. Although real estate professionals are as in tune with the market as possible, we are not mind readers. There are a lot of factors that go into that determination and many of those are out of control of the local market.
The best way to answer the question is to say that we have “tentatively” reached the bottom and are just bobbing around down there. What that means is that we will still see small peaks and valleys, but valuations should be relatively stable.
For those people waiting for the bottom and the best deals now really is the time. Although there is a lot of stock still to hit the market, the values should remain fairly stable. My best suggestion to anyone “playing” the real estate market is to do your research and work with a professional. If it seems to good to be true, it usually is. Best of luck to all entering this home ownership venture as an investor or home owner. Home ownership is still the most secure form of equity.