Have we seen the bottom of the market....indications are we are there!

The article, Home prices ready to rebound, Realtors say, after nasty Q4, from USA TODAY, reports that home prices should spring back in the coming months, the National Association of Realtors said Thursday, after it reported that prices slid in 73 metro areas in the fourth quarter of 2006. Home sales seem to have hit bottom already in many areas: 71 metro areas had price gains, and 14 of them posted double-digit year-to-year increases. Florida, California, Nevada and Arizona saw the biggest decreases in sales volume. "At least the bottom appears to have already occurred," said Lawrence Yun, senior economist at the NAR. "Now whether or not that will be sustainable is a different question", he added. The latest news about mortgage rates should help boost home sales. The average 30-year-fixed mortgage rate for 2006 was 6.40%. Currently it's sown to 6.30%, Freddie Mac said Thursday. "It's great news," said Frank Notaft, Freddie Mac's chief economist. "I don't see any sharp swings in mortgage rates in the near term," he added.

Home prices ready to rebound, Realtors say, after nasty Q4
http://www.usatoday.com/money/economy/housing/2007-02-15-home-sales_x.htm



The article, Home builders' interest in trust land is revived, from The Arizona Republic, reports that Home builders are bidding on big parcels of Arizona state trust land again. Seven developers showed up for the auction of a 694-acre site in the northwest Valley on Thursday. The Peoria site, the north part of the Camino a Lago planned property, was appraised at $43 million. Almost 100 bids among the builders drove the price up to $61.1 million. Scottsdale-based Communities Southwest was the winning bidder. The land is south of Pinnacle Peak Road and west of 91st Avenue. Other bidders included Lennar Homes and Toll Brothers. State land auctions in September of last year were canceled because there were no bidders. Communities Southwest is planning a residential project on the site.

Home builders' interest in trust land is revived
http://www.azcentral.com/arizonarepublic/business/articles/0215biz-talker0216.html#