Best advice for would-be sellers: Don't Sell! Ride this out if possible, because values will stabilize again. If your current circumstances dictate otherwise, then you'll have to ramp up your marketing plan a notch to adjust to the times. If you must sell in this market go the extra mile! All the basic advice applies such as cleaning and decluttering your home. But take it further by painting your home neutral and possibly staging to increase the appeal.
If you are planning a move up and want to take advantage of the current market conditions-consider letting someone else make your payments by renting out your current home. You should consult your tax consultant before making any decisions that might alter your tax basis on your home.
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