When will my home sell? That's the question a lot of people are asking these days. As the housing market cools down some sellers are feeling the heat. In the past few years it seemed like anything with an address would sell but now homes are staying on the market longer and getting ‘top dollar' is not as easy.

That's why I, and a group of fellow Realtors at Keller Williams Eagle Realty, recently discussed how we could best address our clients' concerns. We determined the best approach is to educate our clients about how the market is changing and then set realistic expectations.

We identified three key factors affecting buyers' behavior: inventory, interest rates and pricing.

Today there are approximately 200 homes for sale in the Shores compared with only about 45 fourteen months ago. Buyers now have more to choose from and they are taking their time shopping around.

Proper pricing is now more important than ever. Your home is only worth what a buyer will pay for it and if it's priced above market they will know. A good Realtor will tell you how much your home is worth even if it's not what you want to hear.

Rising interest rates mean buyers are less apt to take on a mortgage. Last year at this time the rate on a 30-year fixed was around 5.75% and now it's up to 6.5%. That means buyers have to pay about $250 more per month for a $500-thousand dollar loan.

There's no doubt that real estate in Miami Shores will remain a hot commodity but as the market adjusts so must we. Both sellers and realtors may have to get more creative and work a little harder to make the sale. There are some simple things you can do to give your home an edge above the competition.

For tips on selling your home please visit my website at http://www.MikeMason.Biz  or call me at 305-527-3088.