Real Estate question

[Biciclista]

I couldn't say it any better than Sgtiger said it. she is absolutely right, on all counts.

Not a good time to sell a condo; but it can't hurt to try.

[Crankin]

Unless you have to move, don't. This is all a cycle. I think what everyone has learned is that your house should be a place of enjoyment that you want to live in and not just a source of cash. Eventually, prices will go up.
When I first moved back to MA I lived in a smaller house, in a town I didn't want to live in. There was nothing inherently wrong with the place, but I spent 6 years just planning to leave. We eventually sold it for about 10K more than we bought it for, leaving very little equity after the real estate commission. Thankfully, we used stock options that we had just received to buy our new house. This was right at the time we were coming out of the last recession, in 1996. Prices were just starting to heat up. When we sold that house 3 years ago, we made a huge profit, which enabled us to move to where we are now.
My house has lost some value, but I am not planning on moving for at least 10 years... I am enjoying it.

[Mr. Bloom]

Crankin +1

If renting becomes an option, the rental should also be able to cover HOA dues, taxes and insurance... But you can depreciate it and i belive you can claim any loss you have after a year as a rental. The HOA makes or kills value for a condo, so I encourage you to take an activists approach to participating and stay put...

I don't know your specific region, but there are signs that the housing market is finding bottom...we just need to absorb the foreclosures in many areas and normalcy will return.