Given massive uncertainty about the economy, due to tariffs, stock market volatility and the impact of AI on employment, Fed Chair Jerome Powell admits he’s stumped about how to set monetary policy at such an unparalleled period. Should he raise or lower interest rates or keep them constant?

Meanwhile, many retirees are equally puzzled about how to price their property for sale to attract buyers and capture the best possible offer before they move. In many neighborhoods, pricing a home correctly is problematic, given economic headwinds. Mortgage rates remain high, and more houses are lingering unsold.

Take the case of a soon-to-retire HR manager at Eli Lilly, the pharmaceutical firm based in Indianapolis. Aspiring to move closer to grandchildren, he put his four-bedroom split-level house on the market 47 days ago. After three public open houses fell flat, he took his first major price cut. The question now is if he should agree to another big discount to get his place sold. Selling would allow him to buy in a retirement community in North Carolina, where his family lives.

“My listing agent is as unsure as I am about how to build interest in my place. She admits I live in an attractive area where homes usually sell quickly. But this year is different and aggravatingly so,” the HR manager says.

Economic uncertainty isn’t the only issue currently bothering would-be retirees. Another factor involves mounting competition from other properties. At the national level, inventory is now nearly 30% higher than at the same time last year.

“The number of homes actively for sale remains on a strong upward trajectory,” says Jake Krimmel, a senior economist at Realtor.com, the property listing service.

Here are a few pointers for home sellers nearing retirement:

-- Resist the urge to play pricing games.

In hopes of scoring more money, some retirees reject the initial pricing recommendation of their listing agent. In pursuit of higher proceeds, they try to “test the market” with a higher price than their agent proposed. After all, they reason, they could always cut the price later if necessary.

But this seemingly logical idea usually backfires, because most buyers are now acutely sensitive to housing values. They respond negatively to an overpriced property and may become so annoyed they won’t even visit the place.

“The first two weeks after you list your house are key. If you don’t price it right from the start, possible buyers will lose interest. Then even after you drop the price, you may have to wait a long, long time to get it sold,” says Donna Clark, a broker for the Re/Max realty chain in Reno, Nevada.

-- Stay focused on the goal you wish to achieve.

Retirement dreams vary widely. Though many wish to travel, others have a less expansive vision. Some simply seek to downsize to a much smaller house or a condo where they have fewer upkeep obligations. Others want to live closer to family.

“Obviously, lots of older home sellers seek to escape to a climate more to their liking,” says Eric Tyson, the co-author of “House Selling for Dummies.”

Staying focused on retirement plans should help keep your spirits up as you do the hard work of preparing your property for market. To maintain your focus, Tyson says, you may wish to take a brief vacation to the area where you’d like to live. A less costly approach is to attach a photo of your ideal destination to your computer monitor where you can keep it in mind.

-- Take a tour of model homes in your area.

Have you lived in your current home for many years? If so, you’re likely very comfortable with your interior design and see no need to update it. But that’s usually a mistake, says Clark, who’s sold homes for more than three decades.

One way to picture the sort of decor contemporary buyers prefer is to tour model homes in new subdivisions.

“This is a shortcut to seeing the kinds of colors and designs younger buyers look for. You’ll also see how well a house can look when it’s free of clutter, such as stacks of mail and magazines,” Clark says.

-- List the upgrades that could help you sell well.

Would-be retirees who are eager to sell their properties should view key improvements as a wise investment rather than a needless sacrifice.

“A house is like a business. Sometimes you have to put some money into it to get more money out of it,” Clark says.

Obviously, you’re unlikely to recoup your outlays for major improvements, like putting on an addition or installing a new fireplace. But Clark says several less expensive upgrades could be extremely helpful in promoting the sale of your home.

For instance, she says you’ll want to refinish hardwood floors if they’re beat up. And you’ll want to replace carpeting in an out-of-date color.

“I had some clients with bright teal carpeting in their living room. It was clean and perfectly serviceable. But buyers who looked at the house couldn’t get past all that teal. After the owners replaced it with light taupe carpeting, their house sold right away,” Clark says.

Likewise, she says most sellers with vibrantly colored walls are well advised to repaint them in neutral tones.

“Pink walls don’t belong in any house you’re trying to sell. Nor do walls in deep red, vivid green or periwinkle blue,” Clark says.

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

A Tucson couple in their early 30s felt victorious in 2022 when they “won” a bidding war for what felt like the privilege of buying a small ranch house with three bedrooms. They especially delighted in the mountain views from the bay window in their living room.

But the marriage didn’t last, and the couple was ordered by a divorce court to put their property on the market. Forty days ago, they complied with the court’s order, listing their place with a longtime real estate agent in their area. Yet despite taking a steep discount off their initial asking price, the property has yet to attract a single offer, and showings are rare.

Glenn Kelman, the CEO of Redfin, a national real estate brokerage, doesn’t know the couple in this true story. But he appreciates the challenge they face to sell their house in the current market.

“The market is changing. Right now, home prices are softening,” says Kelman, noting that due to economic uncertainty and the potential for more turmoil, many consumers are canceling or deferring their plans to buy a car or a house.

The Tucson couple has accepted the reality that the end of their marriage means selling their property at an inopportune time. But they’re looking forward to concluding the sale and are willing to do what it takes to find a buyer.

“We just want to move on for a fresh start. Our listing agent gives us ‘tough love’ advice, including a list of fixes which we should do to the house. She says our listing has become stale and we have to face that fact,” the husband says.

In neighborhoods with weakening markets, including some in the Tucson area, home sellers are cautioned regarding the need for cosmetic updates to attract interest in an unsold property, particularly if the place is showing its age. The Tucson couple’s house was built in 1968 and has had few improvements since then.

Eric Tyson, a personal finance specialist and co-author of “House Selling for Dummies,” says the aging of much of America’s housing stock is a turnoff to many would-be buyers.

“Most buyers simply aren’t attracted to houses built two or three decades ago. You have to update to compensate for this lack of appeal,” Tyson says.

He cautions that people selling a house with an unappealing exterior should be doubly careful not to price it too high.

“No matter the market, people aren’t going to overpay for an ugly house,” Tyson says.

Here are a few pointers for current sellers:

-- Seek to picture your property with an objective eye.

“It’s a rare seller who would ever admit their property looks bad from the street. They’re so used to it that they lack objectivity,” says Sharon Ellsworth, a real estate broker and owner of a Re/Max Realty office in Tucson.

Those seeking a candid assessment of their home’s exterior appearance may wish to survey relatives, who are more likely than friends to deliver an honest opinion.

Also take seriously the pricing recommendations of real estate pros, particularly if two or more agents you poll recommend roughly the same list price.

-- Review your marketing materials to emphasize the positive.

Creating effective marketing materials can help draw people to a property they might otherwise be unwilling to visit due to its lack of curb appeal.

“Pick out the two or three strengths of the house and be sure your agent highlights these in your marketing,” Tyson says.

What are some strong points that often influence buyers?

“Maybe you have a great floor plan, wonderful natural light, a desirable location or excellent schools. Try to remember the factors that drew you to the house when you bought it,” Tyson says.

-- Engage an excellent photographer.

Your agent may be quite skillful with digital photography. Yet if your home shows poorly from the street, Tyson says you could benefit from the skills of a professional photographer.

Your listing agent may ask you to cover the photographer’s fees. Yet Tyson says the money could be well spent if it brings in prospects who might otherwise shun the place.

-- Ask your listing agent to hold a “broker’s open house.”

Most people are familiar with public open houses. But Tyson says a more effective sales tool is the “broker’s open,” limited to real estate agents from the surrounding area.

“If agents come through the house and like it, they’re more likely to show it to their clients,” Tyson says.

-- Ponder the possibility of a new front door for your home.

It’s rare for listing agents to recommend major upgrades to the exterior of a home. Costly changes to the property’s facade are usually unwarranted.

But one upgrade that can prove worthwhile is a new front door. The cost for a high-end door with installation can run a couple of thousand dollars. But the investment could be worth it.

“The front door is the focal point of the house. If it’s attractive, people will focus on this,” Ellsworth says.

If you don’t want to spend the time or money to replace your front door, consider less costly steps such as repainting the door or adding new polished brass hardware. -- Look into improved landscaping.

Not all sellers have time to make surface enhancements to their home, especially if they’re making an urgent move, perhaps due to a job transfer. But those with sufficient time and cash generally more than recoup their expenses.

“Money spent on landscaping is especially good if your house has minimal curb appeal,” Ellsworth says.

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

A married couple of IRS employees in Ogden, Utah, are wholehearted in their desire to exit their rented apartment in favor of a newly built house near the city. But the couple, both in their late 20s, have been rattled by layoffs affecting their federal agency.

“So far, neither of us has been hit with a layoff. But we don’t know what’s next due to the funding cuts sweeping our agency,” says the husband.

For more than a year, the couple have had their eye on a new development of single-family houses in the $450,000 range. One builder they like is selling three-bedroom houses on quarter-acre lots with posh kitchens and two-car garages.

“Technically, with our current salaries we could afford monthly mortgage payments of over $3,000. But the risk is we’d give up the safety of an affordable apartment with very low rent. Every night we go over the pros and cons of delaying or pushing ahead to buy a house this summer,” the husband says.

This couple isn’t worried about the macroeconomic situation involving tax policy and the ballooning national debt. But they are worried about job security and rising prices, making them nervous about going forward immediately with plans to buy a home and start a family.

“Where my wife sees financial risk, I see opportunity. Despite the tariffs, home prices are falling a bit in the neighborhood we’ve chosen, and there are lots more listings than two years ago when we started looking,” the husband says.

Kara Ng, a senior economist for Zillow, the national real estate company, doesn’t know the couple in this true story. But she understands the ambivalence that many wannabe first-time buyers are experiencing and why that has hindered the traditional spring market.

“Economic anxieties disrupted the start of the home shopping season. In April, many households didn’t know what was next for their jobs, investment portfolios or budgets. This kept some buyers on the sidelines, waiting for clearer economic signals before making major purchases like a home,” Ng says.

It’s not only the timing of a home purchase that causes couples to disagree on real estate. It’s also what home features to prioritize. Here are a few pointers:

-- Dispense with the notion that either partner has all the right answers.

Real estate agents often observe battles fought between spouses trying to agree on a home selection. And often, amidst the bickering, they hear one partner assert that the other is mistaken in expressing their preferences.

“Just because you grew up in a quiet, straitlaced suburb doesn’t mean your partner is wrong to want the pulse of city life,” says Mark Nash, a longtime broker and author of “1001 Tips for Buying and Selling a Home.”

Nash urges couples planning a purchase to go through a methodical process of setting priorities before they venture into house hunting.

“As a first step, each partner should sit down alone to draft a list of their own wishes. Only then should they get together to create a joint list, one that reflects the factors most valued by each person,” Nash says.

But what if both partners are unclear about what they’re seeking in a home? One method of gaining focus that’s sometimes advocated by real estate agents is to “go negative.” List all the things you dislike about the place where you now live; then flip these to reveal what you want most.

-- Seek out an agent to help you work through your differences.

Some would-be purchasers, especially those planning to buy in a high-cost area, struggle to reach an agreement on how best to allocate their scarce dollars. In such situations, each partner should focus not only on their priorities but also the trade-offs they could accept, says Dorcas Helfant, a past president of the National Association of Realtors.

Of course, agents aren’t marriage counselors, and they can’t be expected to resolve irreconcilable differences between couples. But they can help mediate conversations that help couples settle minor disputes.

“A good agent will ask the couple a series of in-depth questions so they can reach their own conclusions,” Helfant says.

-- Give yourself extra home-shopping time if you’ve been together for years.

Obviously, people who’ve been married for many years know a lot more about each other than those who’ve been together for only a short while. Therefore, they’ll need to deliberate longer to ensure that both partners’ views are taken into account when a home is chosen.

No matter your age, it may take long conversations, or perhaps even a getaway weekend, to reach an agreement on the best housing choice for both of you.

“Of course, it’s much better to resolve your differences prior to buying a house than to make ‘a purchase against the will of one spouse, which could explode your relationship later,” Nash says.

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