Deals like a $250,000 house selling for $65,000 has brought home buyers back into the housing market. And for the first time in three years, the S&P/Case-Shiller U.S. National Home Price index of real estate values has risen from one quarter to the next. Is the decline over?

While no one is expecting an immediate return to boom times, it does appear the market may have hit bottom sometime in the second quarter and is now making a very modest rebound. With plenty of property to choose from, low mortgage rates and the first-time home buyers tax rebate good through November 30, 2009 — what’s still holding you first-time buyers back?

Credit: Wall Street Journal article