Maybe not the bottom bottom,m but we are seeing in this area of the country is the inventory of GOOD QUALITY Resale homes (REO/SHORT SALE and TRADITIONAL) is at a low and buyers are feeling like its less of a buyers market and more like it's a sellers market (even if the seller is the bank )
The federal government's gauge of home prices rose in January for the first time in 10 months.
The Federal Housing Finance Agency reported Tuesday that home prices increased 1.7% in January from the previous month, though they are still down about 10% from their April 2007 peak. The government noted that sales in January were "relatively low," which could skew the result.
![[Home Prices Rose in January]](http://s.wsj.net/public/resources/images/NA-AW700A_ecoSn_NS_20090324213241.gif)
The gauge reflects only homes with mortgages backed by Fannie Mae and Freddie Mac and excludes homes backed by subprime loans and the high-cost "jumbo" mortgages often used to finance the most expensive homes.
Analysts were cheered though skeptical of the report -- which hasn't reflected as much volatility in the market as other gauges -- and are looking to see whether next week's S&P/Case-Shiller index will show a similar increase.
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Well...Eric...as they say real estate IS local, and in Atlanta you really have to drill down! We are still having our challenges in Midtown as more and more short sales appear. And you know what happens to short sales when the don't sell...they become something else!
But you are so, so, so right! In the big picture, there are so many people that are NOT having problems with mortgages.....Now's the time to become part of the 93% and buy while the buying is good!
Eric,
I have some sellers who will be very happy about this news!
Ann
Hi Eric:
I think everyone will be happy to hear that we have hit bottom.
There is going to be a long leveling period however...