Just a word to the wise concerning pricing because it it THE key ingredient in a home sale in this market. When you put the price on it the first time, try to keep from thinking there is someone out there who will be so completely gaga over your house they will pay a little more for it.

Even if they do want to, unless they are paying cash, their mortgage lender will not let them go above its appraised value. With all the scams that were going on in the appraisal arena in the recent past, appraisers are being very tight with handing out extra value. That means you need to stay within recent comparables within a mile’s radius. If those are only foreclosures and short sales, you may need to contact an appraiser for his input. But trust me, when you sell your home in this market you need to disconnect from it emotionally for a minute and see yourself as the buyer in this same market.

Most sellers still want to try and get a little more, but that initial greed costs them more in the long run as they continually reduce their home and finally get less than they would have if they had picked the right  price at the outset. Later they will wish they had, because someone would have grabbed it right up, giving it less of a shopworn feeling inviting buyers (and often investors) to offer a bargain basement price. Trust your Realtor to know the market and weigh their input carefully before you put the For Sale sign out.

As you drive by that sign near your driveway for the fifth month in a row, you will definitely wish you had taken their professional advice at the beginning! The cost of your monthly mortgage, the wear and tear on your family’s nerves, and the cost of “not knowing when” have a dollar value to you as well. Count the cost up front and be happy you did.