I think it's a great time for move up buyers to buy!  "Huh?" you say in disbelief.  Here's the math:  

You own a home in Calabasas, it would sell for $1,200,000 now, but last year it would have sold for 10% more, say $1,320,000.  You're not sure what to do, should you sell now and move up or wait?  The house that you want to purchase is currently listed at $1,800,000.  Only 2 years ago, this home would have sold for $1,980,000. We really don't know what the market is going to do, but we do know what we have right now.  

Calabasas home prices are down approximately 10% from last year.  
If you sell your Calabasas home now for $1,200,000 and purchase the larger home for $1,800,000 you'll be spending an additional $600,000 for the new home.

If you would have sold your home in 2006 for $1,320,000 and purchased the larger home for $1,980,000 you would have spent an additional $660,000. 

That's a whopping $60,000 more then than now.

What are you waiting for?  

If you are a move up buyer, there is not better time than now to put your home on the market and and start looking for your next home.  You may not get as much for your house as you would in 2006, but you also won't pay as much for your new home.  

Interest rates are the lowest that they've been in four years making it an even better time to make that move up decision.