If you are thinking you can't move unless you get the price you are holding out for, consider this.  The home you will eventually buy, when yours is sold, is subject to the same market conditions.  Once prices do begin to rise again so will the price of your dream home.  Conversely, if you have to accept a lower number than you hoped for, logic suggests the seller of your new home will have to do the same. 

If we put some numbers along with it you should see my point.  Lets say for example you have your home is listed for $300,000.  We know you don't want to accept an offer that is 10% below that, or a difference of $30,000.  But what if you could get your 500,000 dream house for the same margin of 10%, or $50,000, lower?  Well $50,000 - $30,000 = $20,000 that you are ahead.

If you are downsizing this formula may not work as well, unless you are moving from a single family home to a condo.  With the glut of condos on the market currently the margin between asking price and sold price is much wider for condos than single family homes.

So you see, you can still take advantage of a buyers market, even if you still have to sell your property first.

Tom Day, Re/Max in Motion

www.TomDayProperties.com