A proper needs analysis is important to help you decide whether this is a good time for you to sell or not. Depending on whether you are moving up, what your financial goals are, your motivation, and what your long-term goals are. These issues are all an important part of making this decision.
There are different market cycles, and this one has been compounded by the challenges in the lending, but there are factors that are going to determine how long and how deep this market correction is going to be. For instance, the Federal Government is already taking steps to alleviate the lending problems, by actions such as nearly doubling the loan limits in some areas for FHA loans. The limits on Jumbo loans have also been raised significantly. This is designed to have a positive counter-effect on the challenges in the mortgage industry.
Intregal to our American way of life is the dream of home ownership. Rest assured, the demand for home ownership is now, and always will continue to be supported.
After 15 years in the business, we have a strong understanding as to how to advise buyers and sellers in any market, with various needs.
As far as an investment, Real estate continues to appreciate over time, unlike stocks, (remember Enron:) Try this little experiment, ask your parents what they paid for their first home.