Every 1 in 158 house is facing foreclosure and is likely to go up on sale mid way through 2009. No matter which state you live in you are bound to find many a house for sale. The oversupply of foreclosure properties has caused a sharp decrease in housing prices, yet there are not enough buyers causing further instability in the market.

On the one hand the rising unemployment and salary cuts have limited the purchasing power of the masses. On the other hand major lenders are shutting down and don’t have the resources to extend existing mortgages.

However not all people are without money. There are many real estate investors that are holding off buying property at the moment despite the reduced prices. This is because the housing market crisis in 2008 had people believing prices had hit rock bottom. Many investors bought property in the record breaking low of last year only to find out 2009 was going to be worse. The investments made in foreclosure homes last year failed to bear any fruit this year. In fact the same property, if sold in the market may actually go for half its price now.

Anyone who has experienced the above will naturally be hesitant to invest. As it is we entered 2009 with lots of hopes but things haven’t been working out well. However the bush administration is gone and a new administration has now taken charge of the damaged economy. A series of foreclosure prevention programs have been initiated by the government so as to control the number of foreclosure filings.

The effects of these initiatives have as yet failed to surface as the house for sale ratio continues to grow way beyond what it was last year. Some experts are of the opinion that the worst is still to come. In their viewpoint now is still not a good time to buy. However others believe that the worst is over and America will slowly but surely be able to stabilize the housing market. In their viewpoint there couldn’t be a better time to invest than now.

Joseph Smith has been educating buyers on the finer points of House for sale at BankForeclosuresSale .com for over five years.

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