Here's a simple quiz. If you were buying a home today, would you buy the first home you see? Would you buy a home if your banker told you it was priced above fair market value? Would you purchase a home with a leaky roof, obsolete appliances, and a defective heating system without a price concession? If you answered “No!” to all of the above, you're in the mainstream of home buying wisdom.

But, what if you are selling your home? The same rules apply! Buyers look at more than one home, and they compare prices. Overpriced homes that do not appraise at fair market value are often left on the market for extended periods. Buyers bargain for price concessions when they see a home in need of repairs.

So, what's the message here for property owners? It's simple. Offer your home in mint condition, at or below fair market value, and buyers will compete to own it. A fair price can be determined in one of two ways: 1) through a certified appraisal, or 2) through a market analysis by your real estate agent. Either way, you receive current sales data with which to make an informed pricing decision.

Remember, buyers compare before making a purchase. Let your home be the standard which all other homes are measured, then get started packing.