There are millions of homes in this category.  According to CBS News:

"Foreclosures weigh down home values and create uncertainty among would-be homebuyers who fret over prospects that prices may further decline as more foreclosures hit the market. There are about 3.7 million more homes in some stage of foreclosure now than there would be in a normal housing market, according to Citi analyst Josh Levin."

What does that mean to you?

When these homes hit the market there will be more competition to sell, distressed pricing and greater downward pressure on your homes value. Waiting for the spring selling season to put your house on the market may not make sense this year. 

As a direct lender, I can tell you that mortgage rates are at an all time low.  No matter what the media and your friends tell you, you can get a mortgage without 20% down.  I can still offer USDA mortgages with zero down payment.  FHA mortgages have low credit score requirements with only 3.5% down payment and at my company Envoy Mortgage I can provide my clients with preferred pricing for mortgage insurance.

Waiting until spring to sell you home could cause you to have to sell at a lower price and less people could qualify because low interest rates will not hold forever.  Seek the advice of a professional that can help you enter into one of your biggest financial decisions you may ever make.