I'm not quite sure what your question is. If you are able to carry two mortgages at the same time and feel comfortable with being a landlord, it might be something to consider. If you plan to hold on to the current house as a rental property, you'll need to make sure you continue to maintain it to the same standards you do now. There's no point in holding on to a house until prices go up if you're going to allow the home's condition to deteriorate to the point where it might affect its value (not replacing roof or HVAC system or upgrading appliances, for example).
From the buyer's side, it is a good time to buy but many people are not able to or are frightened to bend to the current conditions of lenders. Do you have a substantial down payment? Is your credit score is a favorable range? Are your ratios within the lender's limits? Do you feel comfortable investing your savings in real estate? Where do you want to purchase your new home?
Both Actually! Rates are very low, many homes to choose from, motivated sellers and buyers. However a lot depends on what you really want to do and your time frame.
If you would like a free market analysis, and specific marketing goals ,for your home, contact me for an appointment .
Mattye P. Smith