Pending Home Sales Fell, Existing Home Sales Fell and Foreclosures and delinquencies increased... all signs of a buyers market.

In every market there are buyers and sellers. In every depressed market, one person's bad news is a buying opportunity for someone else. Its difficult to be on the wrong end of that, but the opportunity for someone on the opposite side is what eventually helps things turn around.

So while the home sales news and foreclosure rates are not a good thing for many Americans or the economy in general, it does offer an enticing buying opportunity for individuals looks to buy a new home. And when enough people start buying, things will turn around for everyone.

Interest rates are super low and after a huge drop in pending home sales at the end of the year, there is likely pent up demand. Most sellers are likely eager to negotiate in a declining market, which gives qualifying borrowers great opportunities to get a good price on a home at an excellent mortgage rate.

So when you hear that foreclosures and delinquencies are at an all time high, and pending and existing home sales are at historic lows... remember we have to hit the bottom some time, and when we do it will start getting better for everyone involved. If we are close to or at the bottom now, there may be no better time to buy.