Jumping Ahead of the Market

Let’s say your in a local market where home values are receding, a pretty common event these days. You need to sell, but your asking price becomes too high within a week or so as the market falls. Well, you can try a technique known as racing the market. If you know the market is receding at about one percent a month, you can lower your price by two percent. This effectively puts you two months ahead of the receding market and gives you an advantage over other listed homes. Be warned, however. This strategy can be a mistake if the market flattens out or rises while you are racing ahead of it. Even if it doesn’t, there can often be a lot of sellers remorse as you wonder if you could of obtained a higher price.