If you’re a homeowner who needs a bigger house, or just want to move up a rung in the home ownership ladder, a down market may be a good thing. Here is a very simple example of what I mean:
Last year your favorite real estate agent told you your house would sell for $300,000. You weren’t quite ready to sell….this year was better for you. Now he/she comes by and gives you startling news. Your lovely abode is now valued at $270,000! YIKES! You’re looking a $30,000 shortfall in equity dead in the eye.
Read full article by Seattle Realtor Greg Perry.