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24. September 2009 by Christi Reece.
When will this market hit bottom? I get this question every day. I wish I knew. I wish anybody knew. No one can predict it with certainty, as there are so many factors that affect the turn-around of the real estate market in any given area. Oil and gas business certainly is a factor that we must look at, and there are actually some glimmers of hope on the horizon. Small shifts in attitudes and comments from oil executives. Some hiring seems to be happening too. And if we are lagging behind the rest of the country’s real estate trends, as we usually do, then maybe our turn-around is not too far off. Many markets in the country have begun an upswing.So you may have heard this before, but it rings true: you don’t know when the market has hit bottom until it is already climbing up the other side. Timing the real estate market is as hard as timing the stock market. So I recommend buying real estate now, while interest rates are low, inventory is high, and sellers are highly motivated.
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