Whether you should sell your home now or wait to sell depends on if you want to move up or down in home value. If you are moving in home value up then you should buy before the housing market recovers.
Once the housing market recovers, if home prices increase by, for example, 10%, you would sell your $500k home for $550k but the $700k home you purchase would cost $770k. In this example that is a $20k net cost.
If you are downsizing, it is probably best if you wait to sell. Although, some lenders are promoting reverse mortgages. A reverse mortgage provides an income stream to finance the purchase of a new home. Your old home would then be rented until the market recovers and then sold thereafter. When the home is sold, mortgages can be paid off or refinanced.
Another factor to keep in mind is interest rates. If interest rates decrease
.5% then it is advantageous to lock in the decreased rate. So, don’t forget to watch interest rates and factor rates in to your decision to buy.
Avg. Sales Price: $186,013
Avg. Days on Market: 118
Free Market Alerts 
Thanks, that’s really good advice!
Thank you so much, there aren’t enough posts on this… or at least i cant find them. I am turning into such a blog nut, I just cant get enough and this is such an important topic… i’ll be sure to write something about your site