Real LI

In a post today following national news that buying may begin to rise in the second half of 2008, Long Island real estate agent Bethany Marten writes on her blog Long Island Home Search: "Today's news wasn't so good. Home prices fell to historically low levels, with the average market dropping more than 10 percent from last year with Florida and Nevada suffering losses of close to 20 percent." The possible conclusion? "We haven't hit rock-bottom yet." Marten, a buyer's agent who owns Home Buyers Resource Center and Mortgage 1,2,3 in Baldwin, goes on: "Watch out for the National Association of Realtors since they have a vested interest in promoting a healthy real estate market, even if the facts do not support such a rosy picture." And, she adds, "Beware of the Harvard and Stamford educated economists since they are way too busy sitting in their ivory towers pontificating on the world at large."