By now everybody knows that we are living in a buyers' market, that there are too many foreclosures, and that this is the time to buy, not to sell. But what is the projection for the second half of 2008? Will prices continue to go down or have they hit the bottom of the market? Is this really the time to buy or should you wait longer?

Our projection is that prices will not go any lower, because of the following factors:

First there is the fact that builders have put on the breaks and the number of building permits has decreased by more than 50% which logically lowers the oversupply of houses that we have been experiencing.

Second is that about a year ago lenders stopped making loans to high risk borrowers and at the same time they stopped making loans for 100% or more of the value of the house. Lesson learned.

Third is the fact that there is a new breed of buyers that are very active in the Denver market: it is small and mid size investors that are buying foreclosed properties, bringing them back into shape, and reselling them for a profit. Some of these investors are small and buy one house at a time, while some are mid size and buy houses in groups of 10 or 20. These investors are actively helping lower the excess inventory of foreclosed homes.

Finally, there are the general economic indicators about Denver: even though slowly, jobs continue to be created faster than in most other cities. Denver also continues to be a very desirable place to live and people continue to move in. The cost of living is lower than what it is in other major cities and finally, interest rates continue to be low, making home buying affordable to more people.

Because of these factors, we anticipate that prices will not go any lower in the greater Denver area and that they will remain at this level during the second half of 2008. This is the best buying opportunity that we have had during the last two decades. If you would like to buy a house to live, to rent out, or to resell, contact Tere Cardenas ( TereCardenas@yahoo.com, www.BargainHomeHunter.net, www.CasasDeGanga.com) for a zero pressure meeting and consultation.