Values are declining, although not dramatically. I would not sell but re-market your home using my free FSBO marketing program. If you have a year, be patient. I can be reached at fhilliard@homeownersmtg.com

good afternoon jennifer....there is a very simple answer to your question..does the offer on the table get you out of what you want to get out of?....if the answer is yes...then take the offer with a reasonable amt. of time to move...with the mkt declining....it will be an offer that in the future you wish you would have taken..also.....look at it this way...you do have to have a place to live, but consider all the $ you put out every month for a depreciating asset,.....no offense...it's not you...it's the real estate climate.....lastly..the appraisal revd by the buyer....came from their lender, and that's what will be loaned against the property....not what you want it to be.....if they are asking for closing costs.that's normal.......ask the lender fax me the good faith estimate before you accept the offer.it could be loaded on the front end with a lot of points that you don't have to pay to make the deal close.my fax number is (248) 694-2050....i hope that helps. bob mcclure ( 248) 974-4444 direct cell...(s.e. michigan) ....mortgage now- farmington, michigan...i am licensed in your state as well as 18 others...and can close you in your own backyard...

Jennifer, another option for you is to pay for another appraisal. If you do this, be sure that the appraiser is acceptable to the buyer's lender. Having said this, a solid contract already in hand is a comfort. You need to weigh your peace of mind of a successful sale where you are now leveraged to buy in your new assignment to the idea of renting for a year and moving now.

Jennifer
Think of the money y0u saved not paying commission. Unfortunately we (IMHO) are not in a position to offer your really useful advice. You need advice from a REaltor that knows three things:.
1. Your market trends
2. Your property
3. Your personal situation

Whether or not now is the time to sell is something that a Realtor would have discussed with your BEFORE putting your home on the market.

I agree with the prior answer where did you arrive at your sales price if it is a FSBO which is a common error by most sellers over price of a home. The bank will only lend money to the buyer $195K, does buyer have $200K pay $5K over appraised value. You may want to get a flat fee listing agent involved to assist with all. I would recommend if you have a qualified buyer, lender approval NOT knowing what market can be year interest rates may increase. IT APPEARS to be a great opportunity for you BUYER is going pay more than what house is worth!...
http://www.homes-for-sale-dallas.com http://www.lynn911.com

First of all,where did you come up with the price to list your home?
There are many things that an appraiser will look at to determine the value of your home. Upgrades in a home only make a difference if the comparables don't have those upgrades.
It makes sense that your home is getting less per square foot because if the comparables are smaller homes, A SMALLER HOME WILL GET MORE MONEY PER SQUARE FOOT THAN A LARGER HOME.
If your buyer is splitting the difference of the contract price and the appraisel and paying 5K more than your home is worth, that 5K difference may be the money that the buyer needs for their closing costs.
I have been selling in the Charleston area for 13 years and few if any will pay more for a home than the appraisel. I would take the deal as no one knows what the market will be like in a year. Also, with the new FHA rules effective Oct 1, an FHA buyer will have to have more money for a down payment and no more down payment assistance will be allowed.
Your home will be harder to sell and could possibley be worth less next year.
That's a gamble you have to take as no one knows the future of the housing market.

Good Luck
Ed Finch
Carolina One Real Estate

My personal opinion is that prices are going to continue to decrease due to the increasing supply of homes going on the market. We've just had a record year in the number of foreclosures and some of those homes haven't even reached the market yet.

Any buyer that wants to purchase your home is going to need an appraisal done, and if the appraisal doesn't support the contract price you will continue to have problems. Appraisals are based in the here and now of what homes in your neighborhood are selling for.

That is one of the difficulties of selling a home FSBO. Sellers typically lack the knowledge of exactly what is going on in their market and often get caught up with the emotional aspect (my house is bigger, nicer, appraised for $??? etc) as opposed to the strict business end of things.

A number of things could happen in the next year that could make it tougher to sell the home - further price drops, increased supply (competition), financing could become even tougher or rates could rise. All of these things could cost you more money. In a "normal" real estate market, homes appreciate 3-4% per year. These times could hardly be called normal, but let me ask you this: What happens if in 12 months you can only get $180,000 for the home? Do you sell it? Hold onto it?? Let it go???

Sorry for the long response. Just a mortgage guy's opinion. Hopefully there is some wisdom in there...

I entirely agree with Mini. Take the $$ and hit the bricks.

I say take the offer and run!!!!! But I cant understand why the buyer would want to pay More for the home than it is worth.. :) Upgrades, etc.. don't mean much in this market.. A year will come sooner than u know and if you try to sell your home a year from now and not be successful, you may end up paying more for the home than u would right now in rentals plus u would have more to worry leaving a vacant home behind while u are being transferred...