Article: LOW PRICES, TIGHT CREDIT, GLUT OF HOMES CHALLENGE BOTH BUYERS AND SELLERS TIPS FOR DEALING IN REAL ESTATE IN THE 2009 MARKET.(Business)

Byline: STEVE McLINDEN bankrate.com

In residential real estate, 2009 arrives much the same way that 2008 did: via a rocky road with deepening potholes. While more home buyers are swooping in and picking up great deals, and sales are slowly increasing in many markets, the ongoing excess of inventory of foreclosed homes continues to depress the market.

While potential buyers are now getting very low mortgage rates, they are also facing much tighter credit standards and demands for significantly larger down payments. And we haven't even started absorbing the financial fallout from adjustable-rate mortgages slated to ratchet up in 2009.

No one can really say quite ...

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