Here I am just sitting by the pool at the J.W.Marriott, one of the fine Phoenix area resorts.

The weather is great, about 78F (you can use this handy conversion site) or 25.56C. I am attending some real estate seminars and getting some golf in at the same time. This after all, is the golfers mecca. Hundreds of golf courses with many just coming out of the winter hibernation and at all price ranges.

Got to meet a lot of real estate agents from all over the USA and Canada. Most of the USA agents are coping with hundreds of foreclosures and bank listings, but there is some light at the end of the tunnel in some areas. The problems are not over by a long shot and even if the prices have somewhat stabilized from deep cuts in the past months and years, there are still more to come.

What everyone is looking for is some confidence on everyone's part. The goverment, the banks, the mortgage brokers, the financial markets and the buyers themselves.

The trouble is, that when bad news comes down, that is all we hear form the news media and the real stories are hard to find.
Considering the history and the past performances of the real estate, I would say that this may be a good time to look for bargains if anyone is looking at a long term investment.
The prices seem to have bottomed out in some areas, and even if they go down for a another few points, this is a great time to find the right home at the right price.

The mortgage rates are excellent, and money is available. If you wait too long, the rates may go up and any further discounts you wait for may be offset by the rate increases.