The national real estate market has been severely hit hard in all aspects from residential to commercial, from east to west, and let's not forget real estate credit.

With all the major corrections to prices, foreclosures and toxic credit stories, Forbes.com (http://www.forbes.com/2009/02/24/housing-cities-ten-lifestyle-real-estate_home_prices_slide_3.html?thisSpeed=15000) reported that the Los Angeles real estate market ranked 9^th best market in the US.  They say LA prices were this low last in November 2003 with the Month-to-month drop at -2.5% and Year-over-year drop to be -26.4%.

But what does this mean to a regular Joe Job Seeker like me?  Are there really opportunities out there?

I met up with one of the top real estate brokers in Southern California, who probably has closed 20% of the high-end luxury deals ($2 million +) in the Southbay Beach Cities of Los Angeles.   I asked John Corrales what he thought about the recent media reports and are there “Silver Linings” in his real estate market.

If there is a bright spot in real estate, maybe there could be a bright spot with employment in 2010... lets think positive.

Here is what he sees in his real estate area.