The housing market is in the final stages of a crash and recovery cycle. For the last several years, many people who wanted to sell their homes and move up to something more appropriate for themselves and their families have voluntarily remained frozen in their tracks. Many saw their home values drop again and again. They couldn't believe it was happening. Ask why they didn't want to make a move, and the answer was often that they just couldn't believe it was happening.
Now the market has stabilized, and the kids are halfway to the age when they'll be moving out. They will have survived without the better opportunities that the newer and better home and neighborhood would have provided. Prices are not dropping, maybe even rising a bit. The house is not worth what it was worth in 2005, or 2006, or 2007, etc. It may be worth a little more than last year, but it's not worth what it once was. In the meantime, that move-up house is increasing in price. They can't believe it's happening, and they are still on the fence.
It all reminds me of Bill Cosby's song about a little old man who keeps getting run over by a train and stomped on by elephants (probably donkeys too). When ha asks why the old man doesn't move, the reply is, "Cause I can't believe that this happened." Well, the housing crash happened, and if you're still sitting there in disbelief, you may want to check on your personal progress. Believe that the house isn't worth what it was. Believe that there are better places to live than here. Believe that your life is only going to happen once. Believe that now is the best time to choose the lifestyle upgrade you deserve. The alternative is to wait until interest rates and the price of the upgrade home both go way up, and the elephants will again be stomping on you. Call me if you want help.
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