   Among our many personal finance challenges, selling a home can be a daunting task even in the best of times. And now isn’t the best of times for most of the nation. Okay, an understatement to be sure- the housing “slump” has gone on for more than a year and most experts are not predicting a turn-around any time soon. But depending on where you live, real estate may not be too bad, with some economists even seeing a turnaround in progress in places such as Denver, Colorado for example. Many metropolitan niche markets across the nation are also doing fine… but most of us don’t live in those places. So lets not get ahead of ourselves- in 2007 housing construction fell by the largest amount in almost three decades in an unprecedented national downturn. And foreclosures may continue to rise over the first half of 2008 before finally stablizing later this year.
 ”Mark Zandi, chief economist at Moody’s Economy.com, is forecasting that median sales prices for existing homes will fall by 2.5 percent for all of 2007, which would be the first annual price decline on records that go back four decades.”
Yet even with the pessimism, there is reason to hope. The National Association of Realtors (NAR) forecasts existing home sales for 2008 to stablize and gradually increase. And for many people, it’s time to buy or sell a home regardless of what the market is doing.  For others the rental market looks pretty good right now as well.
Our lives are so often a tangle of priorities. If you are selling a home because of a job change or family situation change, then your proverbial plate is pretty darn full.  And if you’re selling because home ownership (and mortgage debt) is not something you can or want to handle anymore, then you may feel a lot of stress based on finances and a need for change. Heck- selling a home is never easy no matter what your situation. But if you’ve got some time on your side it can make the process a lot easier.
On that note there is a wealth of information available, and it bears repeating a few key themes. Bankrate.com has written about 8 Tips for Pricing Your Home.  Solid information that boils down to knowing your market, seeking professional help and working hard to understand valuation and price strategies. But I think we can do a lot more. We looked at some of those strategies in Get Ready to Sell That House.   Selling by owner is also a challenge, so think hard about the FSBO approach. And if you’re facing financial challenge and struggling with mortgage payments, we examined what you can do to avoid foreclosure.
Among all the negative news and gloom out there I try not to give into the hype. The day is a lot brighter when I simply focus on our personal goals and priorities while turning down the volume of pessimistic commentary from the media. I won’t tune it out completely because it’s important to stay informed. But as with so many things, finding a balance in life is important. A few years from now our memories will fade as we face the challenges of a new day. I prefer to envision a positive future… setting intentions for what we plan to achieve over time. We can create a new future… I wish you well!
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