Real Estate Strategy plus housing stimulus extension

[jthomas1103]

I would like to get a couple thoughts on this. In Harry's book The Great Depression Ahead, his thought was to sell your unnecessary real estate by Fall 2009. Based on what we know now, if you haven't sold yet and the passing of the stimulus to April 30th, 2010 (plus extending it to existing home buyers) is there still time? How much further down can we expect real estate to go after April 30th? Or will the R/E market continue to go down even before the 30th?

Of course we all realize that the answer to this question may be regional in nature, but I'm looking for general thoughts that apply to in the US. If you have more specific thoughts by region, I'm in N. Carolina. Basically what I'm looking for is; Sell now because of X,Y,Z reasons or hold steady because the weaker dollar (or what ever reason) will keep values up (of course we know real values will go down in that case).

For what it's worth on my thoughts, any article I read that says we are at the bottom, I just try to contain my laughter.

[mrussocpa]

I'd like to second this request although my situation is a little different. Based on Harry's book and an overall gut feel for where the market was headed, my wife and I did sell our house. Right now, we are living in an apartment with the funds from the closing safely in all cash. Not the best investment return by far but at this point, I am not willing to risk any of the funds due to the state of flux in the market.

Anyone with thoughts on where the real estate market is headed and what may be the time frame for getting back in would be greatly appreciated.

By the way, my real estate broker is in the camp that prices will not return to 2006 levels for around 10 years but i'm just not sure. Too much "good news" around right now and it seems to an extent that some people are starting to believe it.