
Are you going to live in the home for a decade (or longer)? Or is a relocation in a few years a distinct possibility? Are you willing to take a risk on getting a great deal on a bank-owned home? Or would you rather rent until things settle down? What would you do if prices fall another 5%? 10%? 20%? How would you feel if your home is worth the same as what you paid for it in 1 year? 2 years? 3 years? What about if you decide to rent & miss the market's bottom?
There's no right or wrong answer, per se. Each individual &/or family must make their own decisions. I encourage you to ask yourself these difficult questions. And you're always welcome to shoot me a call/email if you want somebody to brainstorm with.
Your campaigning for normalcy in 2009 Realtor,
Chris Butterworth