The real estate market has cooled with the temperatures. Existing home sales dropped 4.1% in July 2006, continuing an 11-month decline, and the inventory of unsold homes hit a record high in June, according to the National Association of Realtors.^® Although the days of bidding wars and one-day turnarounds may be over for now, there are still ways for sellers to heat up the sale of their homes.

1. Research the competition. Your real estate agent, local publications and Web sites like www.realtor.com* can give you an idea of asking and selling prices in your area. Visiting open houses can help put the numbers into context.

2. Price it right. Once you have an idea of what your local market will bear, price your home just below the going rate to help your house stand out from the crowd.

3. Answer when opportunity knocks. The longer your house is on the market, the more money you stand to lose. So taking a bid early in the game can save you money, particularly if the market continues to deteriorate.

4. Be willing to make a deal. Making concessions, like offering to take care of minor repairs, may help you speed up the sale and preserve your asking price. Throwing in incentives, such as paying the buyers' closing costs, may also help solidify a deal.

5. Dress it up. Keeping your home tidy and minimizing personal effects can help buyers recognize the home's natural assets and envision themselves living there.

To prepare your home for sale, consider using your home's equity to help make your house look its best. Contact a 3^rd Federal Bank loan specialist today to learn more about our home equity loan or line of credit options. And when you're ready to buy your next home, we can also help you with an affordable and flexible mortgage.

* Web site is provided for information only. No endorsement is implied.