Hello All- This was a packed room in which The chief economist for NAR spoke to the Portland Board of Realtors. The link to his interview is HERE.

         But basically, He was reporting that our[Maine] market has always followed the Boston marketplace. And good news! the Boston marketplace has turned upward statistically only recently. And interestingly, so have the major [over the top] markets turned just recently, including the overblown markets of Ft Myers and Las Vegas and parts of Arizona. They have a long way to go though.  We are in a much better position because we did not rise as far or fall just as fast. Ours has been a much more stable market with a much smaller downside.

 Unfortunately we will not be able to predict the very bottom of the market. But even if you are just off a little bit,  it is better that you not have missed it entirely. And the interest rates are unbelievably GOOD! So our advice is get in, and get the piece of property that you want. You may not be at the exact bottom but you will be so close that it will be insignificant. If you wait. You might look back and say"Gosh, why did I wait when I knew what was starting to happen" or "Wow, interest rates have skyrocketed, I wish I had locked in a lower rate and now I no longer qualify to buy,or it is making my payment much higher than I expected."