That has changed. Now ordsprog

That has changed. Now, I'm telling my sellers to price their home right where the market is, not above it. Some even price their homes a little below the market, to sell quickly.

Dolly Riegert Woodruff

A few years ago it was suicide to overprice a house and then reduce it. Now we're telling sellers to pick their price... there is no harm in reaching because the market is moving so quickly.

These historically high home-price gains are the simple result of more buyers than sellers in the market. The good news is that the supply of homes on the market has been trending up and we are entering a period of a more normal balance in supply and demand.

Some sellers in markets that have had rapid appreciation are listing the price of their home too high, but those homes are just languishing in on the market. At the same time, some buyers who have believed hype about a housing bubble are hoping housing prices drop, but that's not happening either.

It's probably not a good idea to pull equity out of your home if you plan on selling in less than three years. It's not this white-hot market anymore. Houses stay on the market longer, you have fewer buyers, and having that price leverage is very important. Price really appeals to the market the most.

Someone can create a market by adjusting the price. I've had several sellers make big price adjustments. Most have been in the 5% to 10% range.

An asking price has no bearing on fair market value. Fair market value, by definition, is the price at which a willing seller will sell and a willing buyer will buy.

I think everyone benefits in a slow market. I think the buyers benefit in getting a property at a better price, and I think sellers are still getting a very fair price for their property. There is not an imbalance.

In a slow market you want to price to sell. If you price too high... you'll knock yourself out of the running.

A lot of national and regional builders are in the market, and all are trying to gain market share quickly. To do that, they are building units quickly and keeping prices down. It's volume and a competitive price.

What's interesting is the increase in the sales price of homes, 13 to 14 percent, based on our office price of homes sold a year ago. Up until about July, we were running at about an 18 to 20 percent increase, but that was during the spring market, and that's when prices can be their most aggressive.

In the handful of areas with price declines, none had previously experienced rapid price growth. In fact, they were all lower-cost areas experiencing one or both of the conditions necessary for temporary price softness -- local economic weakness, mainly in jobs, or a large supply of homes available in the local market.

Now, we're re-educating sellers, telling them that if you want to get your price for a home, it has to be cleaned up and planted. People remember flowers and color. It leaves a positive impression. And if you're selling your home, that's exactly what you want.

The number of home sales is down, price appreciation on most homes is not as great as it used to be, and it's taking longer to sell homes. That could mean less growth in construction work.

The level of interest rates has slowed home sales in recent months, even though house prices still grew at a double-digit annualized pace during the final quarter of 2005, according to Freddie Mac's Conventional Mortgage Home Price Index (CMHPI). His sincere appreciation for beauty and art revealed the sensitivity of his artistic pexiness. Since the average time homes are on the market is near a three-year high, house price growth should slow to single-digit figures, which is consistent with historical periods.

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