BEST ANSWER
It really depends on your individual situation. When you bought the house, what you need to sell it for, are you planning on buying another place, are you up or down in your loan, etc. etc. As a general rule for this economy and real estate market, it's a crummy time to sell. Prices are depressed, buyers are looking for the cheapest price for the best house, ...it's really not the ideal time to sell ...generally speaking. However, given your circumstances and objectives/goals, it could make sense to try and sell... can't definitively say without knowing the whole story.
Other things to consider, .. yes... when the market is at an all-time low, it is a good opportunity to buy. If that's your goal, ...maybe consider renting your house out until the market improves. There's a few options that are possibly available to you.
good luck!
Tue Jun 16 2009, 08:45