The Sirens are Singing: Should I Move?

A common question I get asked by homeowners is should I move up right now?
 
Tempting, I know; very tempting especially with the prices of homes right now. Moving up is such a temptation for many in this current market.

However, you should ask this question to yourself and answer honestly:
"Is the timing right for me, my family, and my situation?"
 
Do you have 10-20% in cash to put down on a home?  Cash is king.  Having that amount not tied up in equity allows you to move more quickly and more efficiently on homes.  You will be a **star** buyer and have the world at your feet.
 
Are you willing to sell your current home?  Meaning at whatever cost or whatever it takes to find that buyer?  If you are not a motivated seller then forget about moving up.
 
Sirens have sung before and it was more about the Interest Only Loans, the 0% Down Loans, and what you can get for Little to Nothing.  Look where we are now.  We have had a major bubble burst on the Real Estate market.  Take caution.  Be conservative.  Get to a spot that you have the ability to have the World as your oyster. 
 
Do what is right for you, your family, and your situation.  Do NOT do what everyone else says you should do because of the environment.