It’s anybody’s guess as to how long home prices will stay down and mortgage rates will stay low. Stories and forecasts favor buyers one week and give sellers some optimism the next. But regardless if you’re buying, selling or thinking about either, there are some guidelines and tips to keep in mind.

If your home has been on the market for quite a while, it’s time to face facts and price it according to current market values. If your agent says your house is overpriced, he or she isn’t just saying that to get a quick sale and move on to the next project. HouseHunt’s market condition report for the fourth quarter of 2011 showed that only 42 percent of respondents’ clients were getting their asking price or close to it. And that’s down from 51 percent in the third quarter and 55 percent in the second.