Your house is worth what someone will pay for it. Asking prices are irrelevant. Sorry to be so blunt :-)

RE is local, not national or regional. the distance from town could be important and worth more, or not.

really its what has sold recently in your area will determine worth. barring good comps its all a guess and adjustments.

think about what you want to buy. if you feel your house is super discounted compared to what you want to buy, it sounds like you should stay put. If you think you're getting a screaming deal on the buy side... well so does your buyer...

How recent and how accurate is your assessment? I don't know if your is similar to ours. Ours has dropped more than 10% over the last two years in recognition of lower sales prices. In our area the assessment is pegged unusually close to market value, and we are assessed annually.

Is property close to town more desireable in your area? Better schools? (Some people would prefer to be farther away from some towns.) Is the farther-flung construction newer?

If you don't have to sell, wait. You may wait several years until the market recovers though -- depending on local conditions. There is a glut of housing yet to come on the market nationally -- failed mortgage loans that banks have yet to own up to and claim.

How far below asking price is the offer? (Percentage please.)

I didn't ask how 'clean' the offer is. Cash? Big downpayment? Qualified buyers?

Also, you might contact your bank to see what they would loan on your home. That would give you an idea of how the bank values it -- and what your buyers could expect the house to assess for if THEY need a mortgage.

There are many ways to make a deal. Banks are currently loathe to make any but the most secure loans. Would you be able to help finance your buyer?

Can you look at completed transactions in your area? If so, compare the ratio of sales price to assessed price. If most houses are selling below assessment, chances are yours will too.

Go visit what your buyers are looking at and see what you think putting yourself in the positon as a buyer. But don't forget askin ain't gettin. You can put your house on the market for any price but doesn't mean you'll get it. A buyer doesn't care what you think you need to get from it, it's what the market will bear. Good luck

Just curious - did the buyers have a clause in the offer that specified that the house had to appraise for the selling price or the deal is off? A lot of offers now have that contingency. Do you know what your house would appraise for?

Thanks for all of the comments. We sold the house with some negotiations and some help from the agents. Glad it's done. The cleaning frenzies are over!

So what did it go for?