New here and need advice about pricing.
Hi everyone. I just stumbled upon this website and have already learned so much. We have bought a lot, are in the process of designing a semi- custom house, and we're just about ready to list our current house. Our realty team has said we should start at $339K and then drop it if we need to after a few weeks if activity is slow. Seemed high to me but was willing to trust the experts, who know my husband very well professionally.
Here is the problem, we just saw online that the short sale house at the corner of our cull-de-sac just dropped their price from $299K to $249K. We know this family and they actually have another house in a connecting neighborhood (newer) that they have listed for $440K. They had been renting out the house on our street for the last two years. We're not sure what happened with them financially. Anyway, we cannot sell our house for less than $315K but really hoped for $320.
A little bit about our house...It is 2700 sq ft not including the finished basement, 4 bed, 2.5 bath, sits at the back of a quiet cul-de-sac on a large wooded lot, all bathrooms have been gutted and remodeled within the last year. Master has a full frameless shower and it truly is beautiful, probably much better than what we will be able to put in our new house :-(. Decor is neutral and tasteful, again, according to experts. Rooms are good sizes, master is HUGE. Kitchen is updated with granite counters, SS, and is a wonderfully functional kitchen. Best part is that the sink faces into the breakfast room that has two walls of windows so you have a great view of the backyard. Ceilings are 8' but we do have a very nice 2 story foyer, which most houses in this neighborhood do not. It really is a great house for a family with two kids. Our bigger family just needs more space.
So, do we stick with the price our realtor suggests or do we need to lower it? Nobody we have talked to thinks the bank will accept the new $249K price of the short sale so it probably won't be a comp at that. Not a lot of recent sales around here to compare but some are listed at $315K, $449K, $399K, $420K. We just want it to sell quickly so we can start and for at least what we owe on it. Don't have to sell though, because we can sit on our new lot for as long as need be. Thanks for any advice.