I don’t know for sure and nobody does, but I think it has.   Here is why – I have never been busier in my life and in the last 10 days I have had 12 transactions.  I sold two homes last night after 6pm.  I think we are in a situation where the buyers and sellers are in agreement. 

For so long, buyers were saying that the market was slow and sellers were not adjusting to that and were holding on to the prices of several years ago.  Now we see that sellers have figured it out; they are adjusting their prices and buyers are ready to get back in the market. 

For a long time we have had a slow market with very few buyers and a lot of pent up demand.  Eventually, people will buy real estate and they have now figured out that there are some great buys out there.  Having a large number of bank foreclosures makes it very attractive from a purchaser’s point of view.

I don’t know for sure that the real estate market has bottomed out and nobody will know until it starts going up – then people will realize that they missed it.  Don’t miss the bottom – hop in now – there are some great deals available!