Where's the bottom?

It is common to hear buyers in this fluid real estate market expressing concerns about the optimum time to buy. " Where's the bottom?" is a question a lot of realtors in bubble markets are being asked. No one knows where the bottom is except for the one they are sitting on. By the time a concensus is reached on the low point of pricing in a market, it has already passed and prices have begun to climb. Fear of overpaying has kept buyers from jumping in and perhaps landing the perfect deal. One must remember that it is not only the price of the home but the payment that matters. Interest rates have crept up a little but they are still considered low. The home you could not have qualified for a year or two ago is now a nice comfortable payment. And the beauty part is that it is inevitable that prices will go up and equity will build in that home. Traditionally, real estate is not a liquid asset with quick turn arounds; it's like the stock market where trends predict the benefits of having and holding. What goes down must come up!