If there is no pressing reason to move (like a job relocation), sit and wait for the prices to go up. Couple of years, maybe.

It doesn't make sense to sell when things are down. So you missed the "up"? It will go up again. You haven't lost any money UNTIL you sell it while it's down.

This is something I don't understand when I listen to the news. The people who are saying, "My mortgage is more than my house is worth. I'm losing money!" Well, you're only losing money if you try to sell it at this time. Just hold on. I take a very conservative view of my house. I pay a mortgage so I can have a roof over my head, not so my house will be a cash cow.

Karen