Did you miss the boat?

Have home sales hit bottom??????

Central Ohio homes sold for an average, $158,893 last year, the lowest since 2001 but only slightly behind 2009's prices.

Central Ohio figures dropped below 20,000 last year, the first time in a decade.

Central Ohio home sales fell for the fifth straight year in 2010, as potential buyers continued to sit on the sidelines.

Last year, 19,676 homes were sold in the Columbus area, 2.8 percent fewer than the previous year, according to the Columbus Board of Realtors. It was the first time in a decade that annual sales dropped below 20,000.

Here is a copy of the article from the Columbus Dispatch

http://www.dispatch.com/live/content/business/index.html

I don't think you have missed the boat, but the bottom is either here or VERY near.

THE PROBLEM WITH KNOWING WHEN THE BOTTOM OF THE REAL ESTATE MARKET HITS IS THAT IT IS ALREADY ON THE WAY UP WHEN YOU REALIZE IT.

By definition, you cannot determine the bottom of the market without 6 months to a year worth of data that shows an upward trend.  By then, it is TOO LATE.  YOU MISSED IT!!

Take my advice and get in NOW!!  Rates are going up this year by a full point on top of increasing prices.  If you are going to buy anytime in the next 5-10 years, you better do it in 2011.  You have been officially warned.