Wow, did I need a big dose of the old Bobbie McFerrin song this weekend. And low and behold that's exactly what our Pastor preached upon this last Sunday. His theme was wrapped around the song and was focused upon not wasting a lot of time and energy energy worrying about things, especially things that one cannot change anyway.
I suppose that I am a worrywart - a product of an over-active imagination most of the time. Unfortunately it's a personality trait that I passed on to my son, who is now the head worrywart of the family. I try not to be, but sometimes the mind just races as one is lying there trying to get to sleep. It likely doesn't help that the real estate profession is ripe with things to worry about.
It's hard not to worry about things, but we have to try. There is little that any of us can do about the current economic and mortgage crisis. Worrying about it doesn't help, it just wastes energy and time. It would seem that, instead of worrying about it, we need to accept that it is what it is and be going ahead with life.
I get the question all the time, "Should I list my house now; or, try to wait out the market?" My advice lately has been to go ahead with your life plans. We may not be in a market that can be waited out. We may be going through a fundamental change; an adjustment, if you will, that is resetting housing values back down to the historical trend line (see my post of March 14, 2008) that it should have been on all along. If you bought recently (last 3-4 years), you are just going to have to deal with the fact that your house has lost value. If you are a long-term owner, you lost some "paper value" but still have an asset that has appreciated nicely over your term of ownership.
So, in either case, what can you do about it? Nothing! You might as well not worry and try to be happy. If you are selling to buy another place, even it it is to downsize, you'll make up some of the "loss" by getting a good deal as a buyer. You'll know when you've become a buyer, because of the big smile on your face. Don't worry...Be Happy!