If you need to sell talk to a few Realtors to get a good idea of what your home is worth in this market. if you bought or re-financed in the last few years you could very well have to bring a check to closing.
Michael Doyle Realtor
I don't see prices really dropping much more in the Twin Cities and expect them to flat line over the next two years. With a recession looming, home prices will not be rising in our area for quite a few years. So selling now, or in a year, won't really make much of a difference, but if you HAVE to sell now, the go for it. Best of luck to you! If you have any further questions, please do not hesitate to ask.
The house prices in the Twin Cities are going to be flat to further down for the next couple years... I just don't see upside in prices until at least middle 2010 or even 2011, so waiting to sell for 2 years in my opinion will not lead to a higher sales price.
If circumstances dictate you should sell now, sell now. If not, you need to be looking at a 3-5 year timeline for any substantial price gains.