I like to use the word stalled to describe our local market. It has not yet started to decline. I also use this word because home prices have not increased like they have the past few years, but they haven't decreased either. In fact, most seller who bought their home 2-3 years ago are selling at or below what they paid for it. If you are a seller, there are some things you can do to maximize your profits, and minimize your losses.
Step 1: Know the market. You must know what comparable homes are selling for. However, you also must know what type, if any, of seller contributions were made for the buyer. (i.e. closing costs, allowances, etc.) Your agent should have this information readily available.
Step 2: Hire a local Realtor. The buyer pool is getting smaller as we speak. It takes an aggresive agent to obtain maximum exposure when selling your home. Studies done year in year out show that over 85% of buyers use an agent to find them a home.
Step 3: Check out your competition. If you see open houses in your neighborhood, take a peek to see how your home measures up. Ask your Realtor to show you your competition.
Check back often for more tips on how to get your home sold for top dollar.