When is the market bottoming out!

When is the Real Estate market at rock bottom? That is the question with out a real answer. You as a buyer will be the one who has to determine this. We are seeing multiple offers on homes in the Portland area. What seems to be happening is the home price will finally get reduced to the true market value and buyers will start jumping. For example Coldwell Banker Hosted a ten day sale in October 2oo8. I reduced the price on a $194,900 home by 10% and I had 2 showings in the same day and two offers in the same day! Unfortunately on the offer that was accepted the buyers financing fell through (that is becoming more common) and the buyers that wrote the second offer have now found another property. We also have some foreclosure homes that have had multiple offers as soon as the price got down to an attractive number. IT'S ALL ABOUT PRICING! I THINK WE ARE AT THE BOTTOM NOW! http://www.coolcityhomes.com/