CUMBERLAND — Coldwell Banker Professional Real Estate Services will help bring area home buyers and sellers together by joining a national company initiative aimed at helping jump-start the U.S. real estate market.

During the national 10-Day Sales Event, participating home sellers from across the United States will reduce the listing prices of their homes by up to 10 percent. The event will run nationally through Oct. 19.

“Here in Cumberland, the 10-Day Sales Event is especially timely. Our participating home sellers feel that a home priced properly to sell will generate much more interest,” said Elizabeth Skidmore, broker of Coldwell Banker Professional Real Estate Services.

“We’re seeing other signs of market improvement, such as the number of contracts and closed sales that have been processed within the last month and interest rates are coming down. Plus, we’re hearing loud and clear from many of our sellers that they’re comfortable with lowering their listing prices if it means getting offers and selling quickly.”

Skidmore said participating sellers who listed their home with Coldwell Banker will drop their listing price by up to 10 percent during the event.

“We applaud home sellers in Allegany County, Md., and Mineral County, W.Va., for their participation,” said Jim Gillespie, president and chief executive officer, Coldwell Banker Real Estate LLC.

“Despite the difficult headlines regarding our overall economy, the residential real estate market has been showing several positive signs over recent months that could be signaling a tipping point,” said Gillespie.

“Because of higher inventory, buyers have more homes to choose from and they can take advantage of near historic low interest rates and affordability levels that are the best they have been in years. The recent housing and economic recovery legislation also provides first-time homebuyers with the added incentive of a $7,500 tax credit.

“It’s our hope that the Coldwell Banker 10-Day Sales Event will move buyers off the sidelines and into the market. We are embarking on this initiative — which has never been done before on a national basis — because we believe it is critical for Coldwell Banker, as an industry leader, to help serve the needs of those individuals listing homes with a Coldwell Banker broker and to help move the U.S. real estate market in the right direction,” said Gillespie.

More information on the 10-Day Sales Event is available at the Coldwell Banker Web site, www.coldwellbanker.com /event.

Coldwell Banker Professional Real Estate Services, located at 131 N. Centre St. in Cumberland, can be reached at (301) 777-3380 and more information is available at www.cbwmd.com.