Watch out for the reno real estate market bottom!

I know the title sounds out of touch. 

But I kid you not, I think we should pay close attention to the market.

Here's my theory:

When the Reno real estate market  topped in July 2005 the overwhelming mood was " invest, invest..it's a good time to buy."  There are many reasons for this sentiment, chief of which is when we are on to something good, like our real estate investments earning 25% a year, most of us would want to share this to the people around us. 

So even up to July 2005, unprecedented number of people were investing and flipping homes.  Everybody was happy.

Fast forward to the present.  Hearing good news about the Reno real estate market is as rare as the hope diamond.  Nobody would disagree that the general sentiment in our real estate market is dreary.

So if the market was topping when everybody was rejoicing could it be also true that as I write this when most are weeping about the state of the market, could the real estate market be closer to the bottom? 

Let us not run on blind faith friends.  Surely theories such as this should be supported by numbers-- and the number currently is as worst as can be.  But that's exactly my point in "watching out." 

History shows us that the bottoming of the market always happens when 90% + of the population still feels depressed.  Yes, it may take another year or two (my guesstimate) but as early as now watch out for clues, it could it be sooner than what we think. 

Watch how the numbers are improving.  Bottom might be sooner than expected.