either. If prices in your area are dropping, youmay losemoney. By pricing your home based on current market values, you can sell your home more quickly and for more money. Price Dropping Another pricing trap to avoid is listing a price for your home far above other homes in the area with the thought the price can be dropped if it does not sell after three months. That is potentially workable in a stable or increasing market. However, if the market in your area is declining, you may be forced to reduce the price even more to catch up to the falling market. Price competitively from the beginning. Do not hesitate to reevaluate your local market. Work with your real estate agent to determine the fair market value of your home. OTHER SELLERS’ MISTAKES Zillow has compiled a list of “don’ts” to help people avoid the pitfalls of an otherwise successful sale. Selling Before Getting Qualified Yourself Entering a contract to sell your home before you get qualified to buy another is problematic. Your financial circumstances may have changed since your last purchase, and you might not be able to qualify for a loan, or you might not be able to sell at a price that allows you to buy the type of replacement house you want. You could end up renting or buying something that was far from ideal. Before you decide to sell the house, get preapproved by a lender you trust and research the housing market in the area where you wish to live so that you have a good idea how much it will take to buy a replacement. Make plans in case you need to move right away. Wasting Time on Unqualified Buyers It is wasted effort to show your home to someone who cannot buy it. An example is the seller who spent two weeks preparing his home for an acquaintance who wanted to buy his home. The seller spent $1,000
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