You are missing the market at $309000. There is very little demand in your area for over $300000.
Most of the demand over $350000 is for 5/4, substantial houses, and in that price strata there is not much demand versus the mega-supply - super high BIG house inventory. Huge. The lot is what starts to matter very quickly.
"Is it experiencing price deflation?" The other answers offer a pretty good look at reality for the southwest side of Atlanta.
But, in defense of the ultimate value of the area, I absolutely love Niskey Lake, and other mid-century neighborhoods in the area. I like the sprawling properties and sturdy houses.
Golfers, air commuters, easy highway commuters to Vinings or downtown or even Sandy Springs, gardeners, privacy lovers - buy here.
Dallas is a cool city - enjoy it. Sell your Atlanta house. Sell it short if you need to. 8 months on the market is too long.
I also agree with the advice to sell and move on - life is calling you in another direction, like so many of us, the market turn as created unexpected circumstances --- best to do the best you can and move on.
Good luck in Dallas!
Unwavering Commitmen to Service
Does your company assist with selling your your existing home when you relocate? Check with the HR dept. to find out if you don't know. Some companies actually buy your existing residence and then sell it to help you with your move. If they don't offer that service and your home is listed with an agent, have the agent provide recent ( last 30 days) comparable sold properties and then price your home where the sold homes are selling. This is a buyers market and pricing your home above what other similar homes are now selling will not get you the results you desire. If you can't sell your home for what others are now selling for you may have to do a "Short Sale" to compete and get the job done.
All the best,
two important facts:
1.) Can you rent it for about the same amount as your mortgage?
2.) How soon do you have to be in Dallas?
If you are only $20-$30,000 under; you may be able to re-coup that in a couple years if you keep it and rent it out. This loss would be preferable to other loses you would incurr.
You would probably qualify for a "Hardship" for the Shortsale; but you are not "Destitute" so the bank may still come after you for the Deficiency.
And if you have to get to Dallas soon; a Shortsale will take 6 months to a year.
Not to mention what that would do to your Credit score.
There are a lot of renters out there now, people who have lost their homes, have bad credit, but would be good renters. Think about it.
Good luck and may God bless
Rayford & CO, 770-431-7458 or http://www.Rayfordandcompany.com , i will send you some information on this process
There are tons of choices, paths and alternative solutions in regard to the situation you have at hand and you already have great suggestions from the other agents here. Hang in there! Best of luck to you -
Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
David Brower, Assistant Manager/Realtor