It seems that at long last the media are looking at the real estate market in a positive light.  In an article this morning in Realty Times, Blanche Evans cites a number of writers and analysts who are suggesting that the market - if not already turning around - could be ready for a sea change.  A bottoming-out market is an ideal time for buyers to step off the sidelines and get into the game. 

Few have had success in timing the market, whether stocks or real estate, but these "observations of media observations" are a clue.  It is unusual for good news to warrant the attention of the media, usually inclined to distort rather than report.

There may be a narrow window of opportunity, though.  Mortgage interest rates have started to climb, and in some parts of the country, including the Northeast, sellers are still not completely realistic in pricing their homes.  Greed got many people into trouble several years ago.  Greed will not get them out.  Tentative buyers can be scared back onto the sidelines if rates go up too fast and sellers decide that they can re-coup the market correction of the past two years.

There is a delicate balance in the market right now, tipping in the "right" direction.  Maybe today, Leap Day, is the start of the turnaround.