Expert: Sellers should focus on local appeal

Though many homesellers may use national real estate data as a barometer for the market's overall health, an expert advises that the decision to sell one's home and get moving depends more on local factors.

Real estate adviser Steve McLinden wrote for Bankrate.com that even in the midst of a sluggish national housing market and falling home values, sellers should not let their moving plans hinge on the chances that their home will gain or lose more equity in the near future. Instead, he advises that a more important consideration is the sellers "product on hand," essentially, the appeal of their home to a prospective buyer.

"For example, a classic home on a tree-lined block near a prestigious university will always be in demand, despite the economy," McLinden wrote. "Same goes for a quaint house that overlooks a lake or forest, or one with a mountain view."

If a sellers wants to get moving sooner rather than later, he suggests listing a home in mid-to-late February, since many buyers today are starting their searches for new homes earlier in order to have time to sell their own home.

Listing price can also help make or break interest in a property. Recent data from RedFin showed that most online real estate listings get their most hits in their first week, suggesting the importance of listing a fair price early on to attract more buyers.

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