Pricing right for today’s market

Listing 'under market' not always effective

Pricing too high can be the kiss of death for home sellers in today's market. Many buyers are sitting on the fence, waiting to see what happens with the economy, and hoping that home prices will drop further. On the other hand, the recent uptick in home-sale activity confirms that low interest rates coupled with lower home prices have many buyers convinced that they should buy now. But, they are looking for bargains. There is no great sense of urgency to buy now. Interest rates are enticing, but low rates are likely to be around for awhile. An $8,000 tax credit is available for first-time buyers -- which includes those who haven't owned a home in the last three years -- if they buy between Jan. 1, 2009 and Nov. 30, 2009. This will hopefully have a positive impact on the housing market. However, the effect will probably be modest. Homes that sell in this market have several things in common. They are well located, in good condition and show well. And, they are priced right fo...