It is so confusing & imposible to predict what and how the market will turn in the year 2011. Hopes are the home sales continue to rise not prices. According to an article i read, the predictions on the rates is that they will stay low till at least the third quarter of the year wich will be very beneficial for both buyers and sellers.
In my opinion the prices will drop but not by much at this time but most importanly we have to take advantange of the low rates and motivate our buyers to take advantage of this. The problem im having is the with the large inventory of homes, they are getting so ambitious to get that super deal, to see more and more houses, to wait because more houses will foreclose and they do not want to miss out on a great opportunity. This prolonges the tme to have a closing therefore making it frustrating not only for the home buyer but for me as a realtor.