Balanced market creates new approach to home selling

Previous listing strategies may backfire in 2006

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

There are plenty of home buyers intent on buying while they can still lock in a relatively low mortgage rate. So, the 2006 housing market should present good opportunities for sellers who understand how to maximize profit in this new, more balanced, selling environment. The first step is to start thinking like a buyer, not a seller. Although buyers are anxious to buy before rates rise further, they know that the appreciation rate is subsiding. When the market is rising quickly, buyers are less concerned about overpaying because they're sure they'll recoup the excess payment within a few months because of robust appreciation. This was the psychology of last year's buyer. Now, buyers are much more concerned about value. For this reason, pricing is more important than ever, as is property condition. Buyers are less forgiving of defects. So, ideally, you should fix defects before you put your home on the market. Listings are most salable when they're new on the market. To maximize your ...