We've talked to buyers, sellers, Realtors and lenders. The topic of market bottom arises with all. Many seem to feel that the bottom of the market is going to be like the second coming. I can see it now in all of its Hollywood glory - the gloomy clouds part, that golden ray of Divine light bathes the dream home in radiance. Housing has rebounded and we can all now return to the glory days of assured appreciation.

There is a method of ascertaining the bottom of the market. It's been proven to be accurate time and time again throughout history. It's called hindsight. Being able to nail the market to bottom seems to be a reflection of our times. More and more we see technology and the availability of instant information playing into the mind's obsession with control.

Fixating on trying to predict the bottom of the market, getting an interest rate at an historic 100-year low or any other single factor cannot only cost you the house of your dreams, it may cost you more money in the long run. There are major changes happening in the lending industry. Some of these will affect many people's ability to buy a home - even people with good credit.

Dan Green over at The Mortgage Reports gives us just one example of what's coming down the pike.

Another example is the FHA reform bill working it's way through Congress.

On another note, it seems the rumor we heard back in September was more fact than fiction. Alliance Title closed it's doors last Thursday.