Agent

Home seller pitfalls to avoid

Do your home's features justify your asking price?

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Six years after the market peaked in 2006 and prices started to decline, many sellers are still in denial about the current market value of their homes. It's difficult for most sellers to accept the reality of today's home-sale market, whether they bought at or near the peak and will lose money selling today, or bought decades ago but are still stuck at 2006 prices. An Oakland, Calif., homeowner recently remarked that she was aware that home prices had dropped quite a bit over the last five years. But she felt that her home hadn't lost any value. It's hard for homeowners to divorce themselves emotionally from a home they've enjoyed. But this is what sellers need to do so that they can make rational decisions about a list price that will actually result in a sale. This decision should be based on listings that have sold in your area that could be considered somewhat comparable to your home. Some sellers go to open houses to evaluate the competition. If you're still emotiona...