Stix ‘n Brix

No matter which way the housing market is moving, the most successful sellers are always at the front of the trend.

When real estate prices were rising fast, it paid sellers to price their homes at the very top of the market or even beyond. The last home to sell in a neighborhood generally made the most profit. With a glut of homes on the market and buyers scarce, today’s smart sellers are taking the opposite approach.

With prices flat or falling it’s better to price low for a quick sale because as time goes by the chances of finding a buyer at or near the original asking price decreases. Many market declines begin quietly, then snowball as sellers who have held on too long in the hope of a fast reversal begin to panic.

If your local area is experiencing an increase in the number of homes for sale and a stagnant or decreasing rate of actual closed transactions, now is the time to cash out, even if it’s not for as much as you’d hoped.