Decide to sell your home and chances are good you'll want the answer to two important questions. First will be "How much will I receive from the sale?" followed by "How soon will my home sell?"

Actually the two questions are related. The price asked for a home determines the sale time. A home worth $180,000, but priced at $200,000, may languish on the market. The same home worth $180,000 and priced at $175,000-$180,000 is likely to sell in a short period for full price.

Notice the key phrase "a home worth." Each and every home has value or "worth" to buyers. The amount of value, however, is based on what it offers in terms of size, amenities, location, and condition. Thus, a property owner's first question should be re-phrased from "How much will I receive?" to "What is the value of my home?"

Because buyers compare homes before making a purchase decision, a home priced higher than it's "value" will either draw no purchase offers at all - or just low ones. In fact, an overpriced home is often used by buyers as a benchmark to justify buying another home priced fairly.

Owners who price their home too high may actually cause other competing homes to sell. A home priced at it's true value will not only sell quickly, but also often at full price.