Although Austin TX real estate has weathered the housing market storm very well over the last year, the problems experienced throughout the country’s largest housing markets are nonetheless felt in Austin.

The buyer’s market, as it stands, means that it may be more difficult to sell your North Austin home. Not impossible, by any means, just more challenging.

What does this mean for you, the seller?

A buyer’s market essentially means that, as a seller, you have to get it right the first time around. There are rarely “do overs” in the real estate market; it is therefore essential that you come armed with all of the vital information before listing your home for sale.

Price and Condition are the Operative Terms

Most Austin real estate experts will agree that the two largest factors when selling your home are price and condition, so let’s examine both of these factors and determine what you can do to use both the price and condition of your home in your favor.

Price it Right — The First Time

Your realtor will likely determine a fair asking price for your home using a comparative market analysis and/or an appraisal. This is definitely the time to put your ego and pride aside and listen to what the research says.

What you think your home should sell for will not hold a flame compared to what the other area homes are going for or what the market is bearing. This may be a hard concept to get used to, but you must price your house right from the beginning if you expect it to sell in a reasonable amount of time.

One of the biggest mistakes to avoid is overpricing your home and assuming that you can reduce it later. This tactic often falls flat because interest in your home will wane and buyers will begin to (a) wonder why the house has been on the market for so long and (b) assume that something must be wrong with it. By playing with prices you are simply wasting precious time.