Understand Your Market

Tip

Start reading the real estate section of your local newspaper a couple months before you sell. If you have not been reading that section, try your local library and catch up on the last few weeks' trends. This will make you more familiar with the market.

Understand whether you are selling in a buyer's or seller's market.

A buyer's market is indicated when houses stay on the market for more than 120 days, there are many houses for sale, and prices are dropping.

A seller's market (also called a "hot" market) is indicated when houses sell fast, sometimes with multiple offers, buyers are plentiful and prices are moving upward.

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