Safe Money Author Asks Owners to be Realistic

An industry analyst advises home owners who sell in this market to price homes realistically.
REALTOR® Magazine Online
Mike Larson, Weiss Research analyst who writes the company’s Safe Money Report, advises homeowners who sell in this market to price homes realistically.

“Don't chase the market down and let your listing get stale. Incremental price reductions will not be helpful in a down market. It's better to attract the maximum number of potential buyers right at the outset by pricing your property at a very competitive price," Larson says.

He also suggests that people with adjustable rate mortgages refinance now while rates are reasonable. “As the market slumps, underwriting guidelines should become stricter, leaving you with fewer financing options.”