How do I sell my house in this tough economy...? You cant watch a major news broadcast without being bombarded with a litany of horror stories about the economy. While its impossible not to notice $4.25 gas, and almost $10.00 for a dozen doghnuts, I think its important to keep things in perspective. We in Western NY have been dealing with the sluggish real estate markets and competitive job market for decades. The mere fact that a home in San Diego is worth less today than it was last year doesent really shock us much here. We , for better or worse, never had the speculative bubble of appreciation, so when it burst in many parts of the nation, it really didnt effect us much here. and the sub-prime mess which has been front and center for almost a year, again has caused a lot of people who might not have been well qualifieed to own an home, to lose it, but according to a lot of Realtors I speak with, what is going on here in Buffalo/ WNY is what should have been going on all along in a lot of these other markets, qualified buyers are shopping for decent homes to live in, and the market is moving along at the same (or close to it) steady pace, it always has around here. its a classic case of the tortise and the hare. With that said, it is important to understand the buying process, when selling your home. ... A buyer works with a loan officer and/or a realtor to get pre-qualified for a mortgage. They are informed of how much the bank will loan them for thier home. Based on that figure, the buyer begins a home search either online or with a realtor (or both) and the two criteria that 90% of all buyers search is 1)location.... and 2) Price. Typically when looking for a home, the buyer will input a range of prices, to see what homes come up in a particular area. (ex. 90,000-100,000) The best advice I can offer any seller, is to search homes for sale, in your area, in a price range 5,000 lower up to 5,000 higher than you are selling for and see if your home is more or less appealing than the other homes listed in that price range. If you are asking 149,900 for your home look at listings from 145,000-155,000... It is mandatory that your home be at least as appealing as the homes priced less than yours, and Ideally, if your home is more desirable than some of the homes priced more than yours, you are sure to sell quickly. One word of caution here, it is critical to be honest with ourselves about the term "desirable" a new hot water tank is nice, but it is not a huge selling point, whereas a new kitchen or bath certainly would be.... -Next entry...I will offer up some great and inexpensive tips to spruce up your kitchen and or bath to expidite a sale!!!