As we all cling to hope for the future of the real estate market, some good news has come our way.  In his letter to the shareholders of Berkshire Hathaway, Warren Buffet said “within a year or so, residential housing problems should largely be behind us.”  This optimistic outlook gets us excited as well!

Nationally, home values have readjusted back to normalized levels.  Fixed mortgage rates are still sitting near record lows and the number of homes available for sale is providing home buyers with more options.  Also encouraging are indications that the high end of the housing market could begin moving again as luxury financing becomes more readily available.

Despite high unemployment and looming foreclosures, experts maintain their expectations that the economy will grow in 2010, while the government carries on its search for solutions to help both troubled homeowners and the unemployed.

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