But Why move so fast? Prices have not gone that bad since August 08?

Any other reason?

WHY?????

The mistake that many people are making is by viewing home ownership as a short term investment. We need to get back to the long term understanding of home ownership.

Does the home meet your needs?

Can you afford it?

Has the quality of life changed since you bought it?

What you are considering to do is "flipping" at an most inopportune time. Make sure you understand the numbers before making a committment to a course of action.

Good luck

Not unless you are unhappy with your home AND have a ready willing and able buyer ready to go and will have no sales commissions to pay. The costs to sell and repurchase can eat away any savings very quickly for similar sized transactions. Also, the loan you qualified for in August may not be so easy to get now in this tougher economic climate.