Has the local real estate market bottomed out?

All I know is that local buyers and investors are thinking it has! Multiple offers on choice and bargain properties are not uncommon. Bargains in the $30,000 to $80,000 range are getting snapped up as buyers and investors don't want to miss out on great deals and the first time buyer stimulus of up to $8000. Incredibly low interest rates under 5% coupled with low prices are making real estate ownership the most affordable it has been in over 40 years. Zero down payment financing is available for qualified first time home buyers, exploding the myth of the lack of money availability. The May 2009 issue of Money Magazine listed Montague as one of the most affordable places to buy a vacation home in the U.S. Local real estate websites are reporting record numbers of "hits" as buyers go "online" to preview homes and look for bargains. Investors are finding that the bargain prices are perfect to aquire more rental properties.