Sales in the decimated Hernando County Florida re-sale housing market may finally be hitting bottom, but you shouldn’t see the price of a house to stop dropping before the middle of 2010 at best, economists are saying.

It is true, prices in the beleaguered housing market in Spring Hill, Brooksville and surrounding areas of Citrus, Levy, Sumter, Pasco, Pinellas Counties could get far worse before they recover as a landslide of adjustable rate mortgages, better known as ARMs, are scheduled to reset over the next year and a half.

Further, rising unemployment is causing a new wave of mortgages going into default followed by foreclosures. So this series of bad economic calamities is expected to cause an even bigger round of foreclosures and cause housing prices in this area of the Sunshine State to fall at least another 20% before the market turns around.

Experts believe home prices could bottom in the second half of 2010, but the opposite opinions of other analyst camps signal it could be 2013 before they finally stabilize. Once prices do reach a low, it could be years before they significantly rebound.

So if you are thinking about selling before your mortgage balance rubs up against your sales price, the time to sell is now.