How Does the market look in 2010

The new year has begun and my phone is ringing with questions from my clients about the market.
The big questions is when are things going to pick up? When should we buy? Should we sell? Has the real estate market bottomed out here in New Mexico?
I feel now is a good time to buy real estate in New Mexico. There are a lot of folks who need to sell real estate to create cash flow because of the overall economic downfall. So yes, there are really great deals out there right now! If you have to move and sell your home, that's fine. The market here in the Albuquerque area has stabilized enough in my opinion that you will be OK. Remember, people are relocating for all different reasons everyday. Know that the prices have dropped in the past couple years by approximately 20%, so don't be surprised when the appraised value of your property comes in at a smaller number than a couple years ago. If you have the luxury to wait to sell your property, I advise you to do so. Real Estate histroically has always gone up in value over time. Three to five years is a good time period to look at in order to gain value. Good luck in your Real Estate endevours in 2010 and feel free to contact me with any quetions that you may have.
In closing, I wish all a Happy, safe, healthy and propsperous 2010.