Has the Real Estate Market in the Portland Oregon/Vancouver Washington Hit Bottom?

I am often asked, "Has the Real Estate Market Hit Bottomed?"So, here is my answer and I am basing my prediction on my experience in the market and the information from other real estate experts which is outlined in a table on my website.

Yes, the Housing Market will hit Bottom in 2010 and I am going to predict that it will Hit Bottom in the First Quarter 2010 due to the extension of the Federal Tax Credit and expansion of the $6500 Tax Credit for those who have owned their home for a minimum of 5 years. The result will be a decrease in inventory and a return to the steady and gradual price increases of "old".

Wild cards are the Number of Foreclosures and Bank Owned properties and the Job Growth.
Some are saying banks are holding back on their Foreclosed inventory...a hidden inventory. However, the percentage of foreclosures for the Vancouver/Portland areas is lower than the national and has been the case historically. I am counting on Bank Owned/Foreclosed properties decreasing during the First Quarter of 2010.
Job Growth is another matter. Will have to wait and see what happens on both the local and national economic levels.

To see the Expert commentaries on the Table mentioned above go to:

http://www.skeatonrealestate.com/My_Blog/page_2143553.html

What is happening in your market...same forecast or?