[hennie pennie]

What are the conditions that must exist before a turn around in selling price of existing homes occurs?

We planned to sell almost five years ago, and decided not to because everyone claimed it was a terrible time to sell a house.

Obviously, conditions are significantly worse for sellers now, and selling prices much lower.

[Notary Sojac]

Incomes need to support house prices. Historically any sale at a price more than 3x income has been very questionable.

And down payments need to be at least 15 percent IMO.

So we'll need to see incomes rise substantially before home prices rise.

I lucked out and sold my house at $450,000 to a couple who maybe made $80,000 between them. I was LUCKY, not smart...this sort of thing will not happen again!

[AdaGray]

In my opinion, unless you are going to lose money and can afford to stay, sell now and price accordingly. I do not see an improvement coming up 2015.