23109VC my point in this response was simply that I was really puzzled about your post because of the back and forth you had when you were considering the purchase of the home. In fact many posters warned you of the exact events that you are seeing in the neighborhood right now. My advice to you was simply to follow your own line of reasoning that you used when you first decided to move forward with the purchase. If for some reason, that line of thought is not applicable anymore then so be it. However, I firmly do believe that you will see more decline and it will most likely be severe. So make your decision based on that, you know what I mean? I kind of figured back when you made the decision to buy this home, that you performed a worst case scenario of continued decline and if that continued decline does happen, that you could live with it and be okay with it.
Really though, I still do believe a home is a home and not an investment. I am not saying anyone should buy now or sell now. I am saying you buy a home to live in a home. If you are going to buy now, do so knowing the market conditions, eyes wide open, knowing that there is a high probability of saving money if you wait, and only you can answer if a renting lifestyle is acceptable. I rent and I hate it and it causes alot of strife but I get by. Same story for sellers. If you are going to sell now do the same, know what you may have to do to get the home to sell.
