You hit the nail on the head RocketRed. It's too bad more sellers don't see it the same way you do. Unfortunately having to sell your home in this kind of market puts you in a pinch. You can lower your price in order to find a buyer, but how low is too low? As low as you can afford IMHO.

Buyers are also pinched right now. Do they take advantage of low interest rates and federal tax credits and run the risk of owning a depreciated assett down the line? Or, do they wait it out and see if prices adjust? Me personally, I was lucky enough to get out from underneath my home in Kirkland in late 2008. I'm just fine with renting until things look more stable.

If you are set on buying again though you're correct in wanting to take advantage of the low rates being offered. Mark my words,.......these rates won't last forever. Sooner or later federal debt loads and attractive investments other than US treasury bonds will force the Feds to raise interest rates, and they won't be small hikes. This will put further downward pressure on home prices exacerbating the problem even more.

It's a tough situtation for everyone around. We would all have been served much better if the gov't hadn't intervened the way they had. Sure, things would have been terrible for a little while, but the recovery would have come much sooner and swifter.