The good news for sellers: Your house will sell. The bad? Only if the price is just right.

That could mean biting down hard and slashing tens of thousands from your ideal listing price if you’re serious about selling. And you should be prepared to get even less than that.

The recently expired tax credits for home buyers gave sellers a boost. Home sales surged and values edged up. But since the deadline passed at the end of April, housing has faltered. Job insecurity, tight credit and consumer confidence are undermining a sustained recovery.

In June, sales of previously occupied homes fell 5.1 percent, while new home sales posted the second-weakest month on record. And many economists expect prices to decline another 2 percent to 10 percent followed by “a long, flat bottom,” said Stan Humphries, chief economist at real estate website Zillow.com.

That means sellers must set their price with precision or risk languishing on the market.

Full story is available on The Sun News