As the CEO of nation's second largest real estate brokerage firm, Ron Peltier knows a thing or two about the real estate market.

“Because of foreclosures, we're going to see price declines throughout 2009.”

And he says there is more good news for homebuyers on the interest rate front too.

“We believe interest rates with a 4 in the front are coming.”

But what Peltier hopes really turns around the market is the economic stimulus package, which includes an $8,000 first time homebuyer credit that, unlike last year's incentive, buyers will not have to repay as long as they live in the house for three years.

“Some experts think that tax credit will bring 500,000 buyers into the market, about 10 percent of current activity,” he said.

He says if potential buyers still aren't convinced to buy, he doesn't know if they ever will be.

“A lot of buyers have been waiting for some tipping point and we think today, with low home prices, low interest, and a tax incentive, that it is a reason to do something now rather than later.”