How do we know when the housing market has bottomed?

Waiting for the bottom is a tricky endeavor. You and I won’t know when the bottom is hit until after the fact Yeah it will be about 6 months later that the reports will come out saying that the housing market hit bottom on such and such a date and is now heading up..Oops, we missed the bottom!
If you’re looking to buy a home in the El Paso real estate market, consider these facts;

• As I write there is still an $8,000 tax credit for first time home buyers and a possible $6,500 for present home owners who are buying.
• Interest rates are at or near historical lows. Depending on your credit you can expect to secure financing in the low 5% or even high 4%.
• There are currently more homes on the market than buyers. This is a good time to negotiate a good deal.
• The impact of being about 8,000 short on rentals and the huge impact of the influx of new troops and their families has not been felt yet so it’s still an excellent time for buyers in the El Paso market.
• And finely if you’re currently renting, at the end of the year all you have is an accumulation of rent receipts and “O” equity.

So don’t put it off, the El Paso real estate market is ripe with good deals. Go out and get yours today!