Without spending too much time doing research...I'm going to tow the hard line here and say you are probably $25k over priced. They are assuming they have appreciated over 5% per year and that is just not happening with this pricepoint in eastern wake county these days.

I believe you are probably about $15K too high. sorry! But to sell in this market you need to be a little closer to the appraised value. I know your sellers are probably not going to like this answer, but if you aren't getting any showings, I would reduce it to $385K.

Hi Kenneth
One of the things I do for my sellers, is look at the TMLS reports and pull up homes in the same area same price range average showing's and see how your sellers home compare's as far as showing's if you are priced right and the home shows well then all you can do is bring buyer's to the home, and the number of showing's compared to the average in that area will tell them that.. Good Luck
Michael

Kenneth - With the current slowdown in our market, and the lack of activity in the neighborhood, You've got a tough job ahead of you. Taking a quick look at the MLS, there are 3 current listings in the neigborhood. One of which has been listed for over a year (3 listings, one expired, one withdrawn, one current active) and one listed for five months (one withdrawn listing, one current active listing) and then your listing, which is a little over 2 months on market. The last sales in the MLS in the neighborhood are from late 2006. So nothing has sold in the neighborhood in 20 months.

I would recommend retaking the front picture of the house, it's smaller with lots of empty white space around it. Thats the first thing many buyers will see online, and it doesn't catch they eye very well.

One of the listings is priced $50,000 below your listing, which isn't going to help you at all. As for your price, what are comparable homes nearby (outside the neighborhood) selling for? There maybe things out of your control like the surrounding area that will hamper resale. Location, Condition, and Price are the three factors that will sell a home. You have no control over location, and from the pictures the condition looks good, although I am hearing more negative comments about dark paint like in the dining room, so price is the only factor you have left. Judging from the two other houses in the neighborhood that have been on the market longer, I think you're price is high if they want to sell. Right now buyer's want to think they're getting a value in a purchase (even when sometimes they aren't) Are you getting showings? If you're not, then you need to lower the price to draw people in. If you are, then you need to identify why they aren't buying the house and correct that problem.

Good luck, it's a tough market for some properties.

Hello Kenneth:
After pulling up your MLS # and previewing the Lauren Oaks area I think you are priced right at the current price. Educating your sellers that in a buyers market you can not tell them what exact value a buyer might place on their home. The best you can do is show them TMLS market data and give them a strong indication of what a buyer may pay for their home. Ultimately they will need to decide how they want to position their home at a price point that they will be comfortable with selling. Having your sellers add a home warranty with the home will provide added value to a buyer making this listing more appealing. It is a beautiful home. Good luck.

As I answered in the other thread: poll the agents who come to your broker's open. Poll the agents in your office.

I am not local however my comment may assist. I am a Dallas real estate agent, and Dallas home mortgage loan officer. Featured as a National Realtor for opinions on many forums. It has been a disappointing market for many across the country since lending has changed. Buyers are required to have a certain % in order purchase a property.

QUESTION: Have you shown the seller a copy of the DOM of homes sold in the area, perhaps that will assist. If your local MLS provides stat's would assist in homes sales for that community.
http://www.lynn911.com http://www.homes-for-sale-dallas.com