My blanket advice for would-be sellers: Stay put. Ride this out where you're sitting if possible, because values will stabilize again. If current circumstances dictate otherwise, then you'll have to ratchet up your marketing plan a notch to adjust to the times. As for buyers: Well, you're "in your element" and the getting is good.

Click HERE for the rest of the advice, which gets specific (like "Don't be an as-is seller" and, for buyers, "Don't bank on further market drops"). 

On that note: Happy 2008, all you Wonk readers out there. Thank you for clicking on the blog, thank you for commenting and thank you for your ideas and suggestions. It's been great to have a closer connection with people interested in the housing market, even on the occasions when the closer connection allows you to tell me I'm an idiot. (By the way, you're free to call me an idiot, but please, no name-calling aimed at other readers.)

Keep making suggestions about possible stories, future How-to Monday posts and things you'd like to see me link to this year. I can't do everything, but I do pay close attention to what you have to say.