A recent article on CNNMoney.com titled “Real estate insiders go bearish in blogs” supports the opinions of the industry experts that the real estate market boom is over and the market is setting itself up for a correction. Although there are varying degrees of opinions about the current market, the common denominator is that none of the bloggers were singing the praises of the current market.

The article goes on to say, “NAR, chief economist, David Lereah, is on record predicting price appreciation will drop to the mid-single digits.” And NAR spokesman, Walter Molony, thinks we’ll see a balanced market this year. He says, “There has been a steady rise in inventory since last fall, but, broadly speaking, it’s still a little tight.”

If you read some of the blogs discussing the current market situation, you’ll find this article to be on target. There are a variety of opinions about the market, but the general consensus is that the market has slowed in virtually every part of the country. One of these posts also quoted David Lerah as saying, “The air is coming out of the balloon. The bubble is not bursting.” What this means is that investors will need to adjust their strategies to a slower market not a market in crisis.

I found it interesting that strategies are even being as reported in a recent MSNBC.com article. This article found that some builders were looking at the current market as “an opportunity to build market share.” Other builders want to “decrease their exposure and wait out this wave of uncertainty in the market right now.”

If you live in a market where the builders are continuing to build inventory while the market remains slow, there will be opportunity ahead.

So what is the pulse in your market? Has your market slowed? Are you ready to take advantage of the opportunities to come? The news articles, blogs, and industry experts keep talking about the change in the market, the slowdown, the bubble, and even the leaking balloon.

This brings us back to the subject of foreclosures since this is the next big opportunity waiting for the educated real estate investor. Of course with any discussion of foreclosures comes a lot of negative reporting and foreclosure myths.