In the dramatic world of the theater, they say “it ain’t over ‘till the fat lady sings.“ In the dramatic world of the real estate market, headlines touting multiple offers and appreciating home values can feel like a premature declaration that the recession is over to some homeowners.

As you’ve probably heard a million times, real estate is hyperlocal. And it’s true – in many, many markets across the country, a mood of exuberant recovery has eclipsed the recession era’s stagnation, doom and gloom.  But the fat lady hasn’t sung for the 10 million homeowners who are still upside down on their mortgages, according to CoreLogic, or for sellers whose homes aren’t following the national trend of flying off the market  after receiving dozens of contingency-free, cash offers.

Here are a few multiple personality market musts for smart sellers…