The area that he lives in is still a great area, the market most likely will
get better next year. The area is growing fast. in fact  the houses are still below average price of what the surrounding towns are.

If John were to take out a Loan, say a interest only,  for $35,000 get the cash,  put away his house payment for 1 year in to a separate account.
 His current house payment is $1,000 a month with his new loan its $1200,
so that's $14,400, from the $35,000 he puts to the side.
 leaving John a nice check of  $21,000.
 So now he does not have to use the money that he would have
 to make house payment  during the winter to pay the 12  /  $1,000 payments.
That he would have to pay any way .
Remember he was going to give away the $35,000
  buy dropping the Price

 Now with the $21,000.  He decides to take a small vacation and relive some of the Stress he WAS under. Them He comes home.  Remodels  the bathroom, puts new carpet in  the living room,
And buys his wife that new Ring  that she ALWAYS wanted.
 Yes Johns life is good.

 Well 1 year later John Can't believe it,  the City broke ground  on a
New high school just around the corner.  His neighbor two houses down just sold his house for $395,000  and it only has 3 bed rooms and 2 bath. Johns house has 3 Bath and 4 bed rooms and of course new carpet.