The experts agree, competitive pricing or pricing your home to sell is the best strategy in this current buyers market.  Trying to sell a home now can be quite a frustrating experience.   The current market is overstocked and the foreclosures can be serious competition.  Homeowners are finding it hard to compete with banks that have slashed prices on homes in their neighborhoods.

To sell a home in this market, the homeowner has to set the right price and get ready to negotiate.  The National Association of Realtors says that 2008 home sales are at its lowest since 2002.

Nationwide, home sales are down 24 percent from last year, while home prices have dropped 8.2 percent. If that weren’t worrisome enough, the U.S. housing inventory remains bloated and the subprime mortgage crisis has made it tougher for buyers to secure loans.

With all this daunting news about the market, some home owners are having success. Here are some tips to make your home stand out in this market:

Use a qualified agent. In this day and age, marketing of your property needs to be extensive. The internet as well as traditional marketing tools is key to getting the word out on your property.  A qualified agent will work with you to discuss your home’s value and how your property will be marketed.

Understand your neighborhood. Work with your agent to get up-to-the-minute sale prices of homes in your neighborhood.  Details of sales in your area can help you with pricing and help improve the marketing strategy that may have changed to reflect market conditions.

Offer buyers something extra. Besides offering to pay the usual closing cost, maybe offer to pay some Home Owners Association fees for a few months.  This can help the buyer cope with some of the fees that may arise. Possibly even offer moving expense or a month’s mortgage payment.  Whatever it maybe, be open to giving something up to make the deal work, just check with your agent to make sure it can be legally done in your area.

Offer a home owner’s warranty. This may be a small jester that may go a long way.  A home warranty can be a piece of mind as it provides protection for a home’s mechanical systems and certain appliances against unexpected repairs in the first year.  A first time homebuyer maybe concerned about buying a resale, but a home warranty can be used to curb their fears.

These are just a few tips on selling your home. Check out more tips on selling your home in a buyer’s market to come in the future.