Sounds like you are doing all the right things to come up with a good evaluation of the property. Most importantly looking at the sold and active comps to present to the sellers explaining to them how you came up with that number. To be more persuasive you can have someone do a BPO (brokers price opinion) This is similar to an appraisal but costs only $50 to get an independent agent to do the comp. Basically the agent(get someone certified by NABPOP (http://www.nabpop.com/) gives you an evaluation based on comps etc. Although it is not an appraisal it can help you defend your pricing. It is also good if you find someone who is not representing you in the transaction so they can remain neutral.
Pt. P Boro sales are down and inventory is rising in 2011 vs 2010 meaning the market is softer. In the past year there were 53 sold and a 100 active listings in the boro so it is def a buyer's market. However, you must come in with a price that is realistic so you are correct doing your homework, and if you have cash you could get more leverage in the price. You can find out if it is a distress sale by looking on the tax records, your agent has that information.
Unfortunately there is no precise formula for pricing and emotions are in the equation which makes it even harder. Have your agent communicate the offer in person so your case is clearly presented. The listing agent might be afraid to defend your price because they are representing the seller and do not want to chance losing the listing if the seller gets angry. If your agent is the listing agent acting as dual agent , you might want to reconsider your relationship.
Good luck and feel free to ask me anything that can help .
I would first ask what feedback your realtor has provided.
Then, don't let the $75k down in a year disuade you as seller may have been $75 overpriced.
All you can do is present the facts, together with other statistical data about the state the market that most realtors usually have in their tookbox.
Francesca Patrizio, Broker Sales Associate, ePro, SRES
No problem. See if your Realtor will ask for an "in person presentation" . . that is where your agent sits across the table from the seller. Alot of times listing agents resist, but I often tell them I have signed document requiring me to make this presentation.
During this process (usually somewhere in the middle), I usually say to the seller, "ya know RE 101 a may insult a seller, however, I am of the school of thought of noted RE expert/motivator, Danielle Kennedy . . . no offers are an insult, an offer is a sign of interest and place to start." Then they listing just a bit more intently.