Home Prices may be Stabilizing

I'm beginning to see more articles like the following indicating the end of housing price declines is near.



In the Keys there has been a stabilizing of sales prices and an increase in the number of pending sales.


US housing markets from Florida to California have suffered price drops of 50 percent or more from their peak, but now, at long last, a bottom is within sight, likely in the fourth quarter nationally. sales are probably at bottom, stabilized by foreclosure sales, while construction will hit bottom in the first half of this year, although the pace of housing starts will remain very depressed until 2011. From the peak to the trough, total single-family home sales will have declined by 40 percent and housing starts by 70 percent.
@ CNBC Posted: 02/05/09 at 0201 EST



On a side note its been very cold here the past few days but nothing compared to the midwest and northeast parts of the country. The cold weather hasn't hurt the fishing particularly the sail fish which are reported to being boated on a record pace.



The National Association of Realtors has offerd an amendment to the Stimulus Package working its way through Congress to lower interest rate to 4.5% or less and have the first time home buyer credit changed to apply to all sales of primary residences. If these provisions are included it should help you purchase your Florida Keys Dream house.