The short answer is to first have a realtor do a good estimate of value on your house in Laveen. That realtor must show you not only where the market was a 2 or 3 months ago, but where its headed. Try to stay away from the "I think" agents. Have them provide you with the hard statistics and you'll be able to make your own decision. If you can get enough to buy a house in the east valley, then your decision is easy. Likely, you'll need two realtors to represent you, one on the listing side and one on the buy side. The two locations are too far apart to expect an agent to be capable of expertly representing you in both areas. That's why I wouldn't take your listing in Laveen, but would be happy to represent you in your purchase in Tempe or Chandler. This is a fantastic time to buy even if the market drops a little more. If you're going to be in your new home for 4 or 5 years, I would bet that any coming depreciation will be more than made up for in a few years. The long and short of it is.....if you wait, your house value may continue to drop and you'll have to wait for it to recover. When your property recovers so are the ones in Tempe and Chandler. You have severe competition with new home builders in Laveen where this is not the case in Tempe and north Chandler. I'd suggest that you formally gather your facts and then make an educated well-informed decision based on fact and not emotion or opinion. Call me if you need an expert in the east valley.