With all the talk of the real estate economy and what’s next, there’s a lot of bottom-hunting going on, both in the media and in living rooms all over the US.  The big question real estate observers and potential home buyers are asking is, “Where’s the bottom?”

The only trouble with asking “Where’s the bottom” is whether it’s the right question, especially when considering Colorado’s Front Range–particularly the Denver homes market.

Perhaps a different question is, “Is it the right time to buy?”  Considering that both mortgage rates and home prices are low right now, your answer may be, “Yes!”  The Denver real estate and Boulder real estate markets are faring relatively well, but why wait, if you’re in the position to buy now? What may matter most to you is that conditions don’t have to reach the bottom in order to benefit you in the long run. There’s an unprecedented opportunity to buy now while the buying’s good; the answer to the question of where the bottom is may be, for you, “Who cares?”

But if you’re a stickler for bottom-hunting, according to Rick Newman at US News, “Look for the bottom late this year. Moody’s Economy.com predicts that housing prices should stop falling nationwide by the second half of 2009.”

Photo by Flickr–Creative Commons, by Dan_Zen