South Lake Tahoe Market–Where is the bottom?

The question I hear over and over and over again:  “Where do you think we are in terms of the bottom?”

While no one knows the answer to that question there are a lot of indicating factors to watch closely over the next 3-6 months…..nationwide trends are indicating the “potential” for a leveling off of the rapid market depreciation that we’ve seen.

But on the flip side, I haven’t seen a single one of those articles weigh on the fact that there was a 3 months moratorium on foreclosures from a lot of the big giants–Fannie Mae, Freddie Mac and JPMorganChase/Washington Mutual.  If we recall, what caused the market decline in the first place is increasing foreclosures on the market driving the prices down in neighborhoods.  Well here we are about to have a flood of foreclosures hit the market again.

So the big question in my eyes is:   Has the government done enough to free up money for purchasers & consumer confidence risen enough so they continue buying (as the trend is increasing that pending sales went up in March) and will it be enough to balance the onslaught of new foreclosure listings about to hit the market in the coming months?

Stay tuned to find out but read these articles below…they both offer some great insight into the market trends and what to watch carefully for.

http://money.cnn.com/2009/05/04/real_estate/March_pending_home_sales/?postversion=2009050411

http://www.reuters.com/article/newsOne/idUSTRE53S3NK20090504

http://www.realtytrac.com/ContentManagement/RealtyTracLibrary.aspx?a=b&ItemID=6195&accnt=64953