For more than two years, an Oregon couple -- a hair salon owner and her lawyer husband -- have hankered to sell their craftsman-style house. But only this fall did the pair complete their prep work -- decluttering and painting -- allowing their listing to happen.

Now the couple -- both in their late 60s and eager to move near their grandkids in Ohio -- wonder if they’ve waited too long to maximize their profits from the property. That’s because home prices are dipping slightly in their suburban hamlet.

“We procrastinated for the longest time about decluttering, which slowed us down. Also, we were overly meticulous about making every square inch of our house perfect, which set us back,” the lawyer says.

Given the delays, the couple worries about how to price their property correctly during a transitional period when mortgage rates are fluctuating on a daily basis and many more homes are hitting the market.

At Realtor.com, the home listing service, economist Jiayi Xu says active inventory has increased 31.9% above year-ago levels. Meanwhile, available properties spent seven days more on the market compared with this time last year.

She says another benchmark rate cut by the Federal Reserve could give more buyers bargaining power and further reduce seller leverage as an increasing number of rival listings emerge.

Danette Johnson, a longtime real estate agent based in eastern Utah, doesn’t know the Oregon couple who’s worried about pricing their property accurately. But she cautions that picking an overmarket price could ultimately hurt them at their bottom line.

“Sellers are always the last to figure out what’s going on in the market. But where prices are drifting downward slightly, an overpriced house could develop a stigma and become stale in the minds of buyers,” Johnson says.

She urges sellers to avoid a “testing the market” strategy to see whether an inflated price will still bring offers, an effective approach during the first two years of the pandemic when properties were in short supply and many wished to move out of dense urban areas.

She recalls how during the worst of COVID-19, one listing in the mountainous resort area of Moab, Utah, received 17 prospective offers from would-be buyers. But she insists that few such bidding wars are currently happening in most parts of the country.

Here are a few pointers for would-be sellers:

-- Gain information on current pricing trends promptly.

Dorcas Helfant, a past president of the National Association of Realtors, says you may wish to interview up to three local real estate agents to get their assessments of your property’s value and learn what repairs and upgrades are necessary to make the most of your sale.

“It can make a lot of sense to get more than one viewpoint, particularly on pricing a place that is quite different from most properties in your neighborhood,” says Helfant, who co-owns several Coldwell Banker realty offices.

Those who plan ahead for their sale can often avoid the sort of crisis that requires them to move before they’re ready, says Mark Nash, the author of “1001 Tips for Buying and Selling a Home.”

Once you know you’re definitely going to move, Michael Crowley, a broker in Spokane, Washington, says it’s wise to commit to the listing agent of your choice.

“Giving your agent at least a couple of months can help that person to help you get fully prepared to make the most of your listing,” Crowley says.

An agent with ample notice of your selling plans can better advise you on the steps you’ll need to take to achieve the best possible outcome.

“It’s always better to arrange for your contractors with plenty of lead time,” Crowley says.

-- Ask for data on selling times.

To better plan ahead for your move, Helfant suggests you request statistics on the average selling times for homes in your community.

“The only numbers that count are the ones for your immediate neighborhood. Beyond that, the statistics aren’t relevant,” she says.

Take these numbers, known as “days on market," and chart them over a six-month period. If selling times are gradually increasing, this could indicate a cooling of demand and should signal caution to prospective sellers.

“If you determine that your market is gradually slowing down, you’ll want to allow yourself extra selling time to ensure a smooth transition,” Helfant says.

-- Start packing as soon as you know you’ll be moving.

Nash contends that the majority of home sellers procrastinate on the property prep process.

“Getting your home ready is both laborious and stressful. So it’s no wonder many owners typically put it off. Only when a deadline looms do many people finally mobilize,” he says.

Besides painting and repairs, nearly all homes should be purged of clutter to show well. Your first step should be to remove any excess furnishings that crowd your interior space. Then box up smaller items and place them in your garage or a rented storage unit.

“Sellers are usually really surprised at how few of their belongings they actually need while their home is on the market. That’s especially true of clothing because most people dress casually these days so elaborate wardrobes are mostly unneeded anyway,” Nash says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)

During the pandemic, mortgage rates plummeted to historic lows, a period Wall Street investors called “The COVID refinance boom.” Fully one-third of all outstanding mortgage balances were refinanced during the first two years of the pandemic.

Most homeowners with exceedingly low mortgage rates are “happy campers” with no intention of moving, says Eric Tyson, the coauthor of “Mortgages for Dummies." Indeed, they’re so pleased with their low rates that they plan to stay put indefinitely -- what real estate specialists term the “lock-in effect.”

Obviously, not all homeowners with mortgages managed to refinance during the opportune pandemic period. They’re still in the market for a lower-rate mortgage, as are those who bought property after the pandemic ended.

Take the case of a couple in their 30s -- a lawyer married to an event planner. Last year the pair spent $600,000 on a fully renovated Cape Cod they financed with a 30-year mortgage bearing a 7.1% interest rate.

“We’re really jealous of our neighbors who have rock-bottom rates. So we’re hopeful of lowering our rate now that they’re coming down again,” the lawyer says.

In hankering for a lower-rate mortgage, this couple is hardly alone. As reported by the Mortgage Bankers Association, more than half of all new mortgages originated in the United States now involve refinances. While few owners can obtain home loan rates as low as those available during the pandemic, many can do better than what they have now.

Are you interested in a refi? If so, here are a few pointers to help you qualify:

-- Think through your long-term plans for your property.

Way back in the 1980s, a futurist named Faith Popcorn coined the term “cocooning” to refer to those who wished to nest in the comfort of their property rather than venturing outside any more than necessary. Many retreated from the less commodious and sometimes crime-ridden outside world.

During the pandemic, when lockdowns were prevalent, some homeowners adapted so fully to the restrictions that after COVID-19 that they were reluctant to go back to their former lives.

Are you so at ease as a nester that you plan to hold on to your current property rather than move in the near future? Then you could be a good candidate to bear the up-front costs and time needed to refinance your mortgage to a somewhat lower rate. On the other hand, think twice about refinancing now if you plan to sell in a few years.

“Remember that there’s more to refinancing than simply bagging a lower rate. Crunch the numbers about costs and try to avoid lengthening the term of your mortgage,” says Keith Gumbinger, a vice president at HSH Associates (hsh.com), which tracks mortgage rates throughout the country.

-- Familiarize yourself with your credit standing.

Before they settle on the right lender to refinance their property, savvy consumers, Tyson says, should review their credit picture to see if flaws or mistakes crop up.

Under federal law, you’re entitled every year to one free credit report from each of the three large credit bureaus: Equifax, Experian and TransUnion. To obtain these, just go to this website: annualcreditreport.com.

You’ll probably also want to access your credit scores. Such scores, which draw on data from the credit bureaus, provide lenders with a quantitative measure of a person’s credit risk. Most lenders use FICO scores, pioneered by the Fair Isaac Corp.

Generally, you must pay a fee to obtain your credit scores directly. One approach is to buy these through the Fair Isaac website, myfico.com. You can also receive credit scores through the credit bureaus directly or potentially free through a bank or credit union where you have an account.

There are multiple reasons to examine your credit before shopping for a mortgage lender. Most important is the fact that self-knowledge will gain you the respect of any lender with whom you choose to make your loan.

-- Question the claims of online lenders.

No one who uses the internet can miss the many colorful ads promising low mortgage rates to homeowners who want to refinance. But should you take these offers seriously?

Tyson says it’s conceivable you could find an online lender who offers both excellent service and low rates. However, he urges you to exercise caution in dealing with any online lender who promises much lower rates than are available through traditional lenders in your local market.

“Bait-and-switch tactics are a real possibility,” Tyson says.

In addition, there can be servicing problems available with online lenders.

“Some online lenders refuse to take phone calls. They’ll only communicate through email, which could be problematic if complications develop,” Tyson says.

Another possible issue, he says, is that any out-of-town lender might undervalue the property you’re seeking to refinance.

-- Consider an array of potential lenders.

Veteran real estate agents in your community could be helpful in suggesting the names of solid mortgage lenders. But Tyson urges you to look beyond the real estate community for referrals.

“Ask for referrals from any business adviser whom you trust, whether that be a lawyer, tax preparer or financial planner. Also, ask your friends, neighbors or work associates,” Tyson says.

Once you’ve come up with a short list of potential refinance lenders, Tyson says it’s better to have a face-to-face meeting with them than to evaluate them through phone conversations alone.

“Because refinancing your mortgage can be time-consuming, you might wish to take a vacation day from work to do it right,” Tyson says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)

The nation’s housing market had a quiet summer, with many sellers and buyers waiting on the sidelines for mortgage rate drops. But the mood changed dramatically on Sept. 18 after the Federal Reserve lowered its benchmark interest rate a full half-point, encouraging mortgage markdowns.

“Lower mortgage rates are creating inflated hopes among some sellers. Naturally sellers want top price. But don’t rely on wishful thinking when pricing. Never forget that it’s the market that determines value, not you,” says Stacy Berman, who’s sold homes in the Washington, D.C. suburbs for 22 years.

“Buyers look at many more homes, so they’re more price-aware than sellers. Price too high, and your house could get a stigma and just sit there unsold. It’s better to list just 10% or 15% below market value. That could cause an escalation in bidding, yielding a better result so you can move on with your life,” Berman says.

She cites the case of a federal contractor in her 50s who’s learning the hard way the impact of overpricing her small one-bedroom condo.

“This woman really needs a two-bedroom apartment because her 14-year-old daughter is now staying in a small alcove off the living room. But the owner is insisting on a list price $50,000 over what the condo is worth, which she’ll never get. Meanwhile, the place is languishing unsold,” Berman says.

One issue for sellers is that they vividly recall how at the height of market demand, some neighbors could command stellar prices through bidding wars. That was especially true during the pandemic.

But even in some popular neighborhoods these days, the bargaining power of sellers is weakening a tad as buyers gain more sway and negotiate more intensively.

Jeb Smith, who sells homes in Orange County, California, says that many owners are unsure how to price properly in the midst of a rapidly evolving economy. That’s particularly true in neighborhoods with widely divergent property types.

As always, pricing your home for sale can prove stressful.

“Make no mistake, there’s a huge emotional factor when it comes to pricing. Due to the pride of ownership, people always think their place is worth more than the one down the street that sold last year after a big bidding war. That’s just human nature,” Smith says.

Here are a few pointers for sellers:

-- Consider a list price just one notch below prevailing market values.

Surprisingly, sellers on a tight deadline can often receive more for their property if they price it just a few percentage points below its apparent market value, Smith says.

“Given the internet, buyers are alert to fair market pricing. That’s why pricing slightly under market can generate lots of interest among buyers,” he says.

-- Examine recent sales in your area before setting your price.

Even before your home is listed and open for showings, your agent will likely recommend an asking price. But before accepting any pricing recommendation, all sellers should do at least a nominal amount of research.

“Tell your agent to give you a list of nearby properties still under contract -- the more current the better. Then ask the agent to look into details about the properties that sold --including whether they’ve been updated. Also drive by the sold houses for comparison purposes,” says Ashley Richardson, who sells properties through Sotheby’s International Realty.

“Remember, it’s always the owners who have the final say on price,” Richardson says.

-- Find a seasoned listing agent.

Some sellers find the anxiety associated with home-selling decisions distressing. In that case, it’s often wise to hire an experienced agent who’s worked through many transitional markets, says Eric Tyson, coauthor of “House Selling for Dummies.”

“Seek an agent with a history of recommending correct pricing from the outset, not after a series of price cuts,” Tyson says.

Contacting the managing broker of a local real estate office is one way to identify a skillful agent. But make sure you find one with an impressive track record selling your type of property in your price range.

“Also, it’s an excellent idea to contact references who’ve previously worked with the agent you have in mind. Ask these references how well the agent did on pricing recommendations,” Tyson says.

-- Hasten your home sale through delegation.

Many owners devote several months to prepping their place for sale. They clean, sort through their clutter, clip outdoor shrubbery and paint wherever needed.

But if you’re struggling to sell quickly -- perhaps due to a mandatory move -- you may have no more than a few weeks to get the home ready for showings.

One obvious way to reduce your prep time is to hire contractors for work you might normally do yourself.

“If you can afford it, hire pros for both cosmetic work and repairs. Resist the urge to save money with do-it-yourself work such as painting and carpet cleaning,” Tyson says.

Don’t ignore the need for decluttering and in-depth cleaning.

“The winter holiday season is soon approaching. So always keep in mind that time is money -- particularly if you have to move quickly and hate the idea of your house going unsold for a lengthy time with all the carrying costs that entails,” he says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)