It could also be an equally good time to sell

"Anyone buying a home and plans to stay there four or five years is just fine. A house is not a day-trading asset," said Leslie Appleton-Young in a forecast made to about 500 real estate agents and industry representatives last week at the JW Marriott Desert Springs Resort and Spa. The annual forecast event is sponsored by the California Desert Association of Realtors.

Now may be the best time to buy. If the market corrects itself then turns and heads south again, many people looking to buy real estate will be left out in the cold. You could see the market making its first correction. The next one very well could be the second leg of a downward trend - the longest leg in most technical analysis indicators.

While buyers can do well in this market, sellers can also do well. Whether you are buying or selling real estate, don’t go into transaction blind.

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