If you are in position to buy a home these days, you have a great chance to make a killing. It is no top secret the real estate market has pulled back in a big way. We are quickly approaching the bottom of that market, which means you can reap huge equity growth in the next few years if you buy now. One of the issues you face now, however, is figuring out if a house is losing value due to the overall pull back or because of a little permanent. There is no clear way to create this determination. One approach taken by many is to view the nature of the neighborhood. Is the neighborhood falling on hard times? Are jobs leaving town? Is there something major that has happened? If not, you are probably looking at a home that is suffering a provisional pull back and will rebound for big equity gains as the market does the same.
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