Don't look back!

I was wondering today why more people aren't taking advantage of the low interest rates and the unprecedented buyer's market? While we have seen an increase in showings since the first of the year and existing home sales were up in December people are still sitting on the sidelines. My guess is that most people are waiting to see if things get worse or they have a house to sell and are not willing to admit their house is worth less today than it was last year or even 3 years ago.
My advice would be DON'T LOOK BACK! Forget about what your home was worth and think about what your home will be worth in 5-10 years. Then think about where you want to live in the next 5-10 years. If you are looking to move up in price it makes great sense to sell at a discount and buy at a bigger discount. Look forward not back. If you wait, you will end up getting more for your house but you will pay more for the new one. The bottom line is you will end up owing more if you wait and you will probably not be able to get an interest rate as low as they are now. So don't look back, look forward and act now before this opportunity passes!