National Featured Realtor and Consultant, Mortgage Loan Officer, Credit Repair Lecturer
Follow me on Twitter: http://twitter.com/Lynn911
As previously mentioned, the best way to establish an accurate understanding of the present value of your home is to view it from the perspective of the current local real estate market.
This can be accomplished through generating an appraisal or having a CMA done by a real estate professional. For accuracy and reliability, many owners in your position lean toward an appraisal.
Once these are addressed by a knowledgable agent along with closed sales for the last 3 months this will give you a snap shot of the market. All real estate is local and in Naples FL our tax values are greatlly affected by time of ownership, whether the house is Homesteaded or not (single owner or married owner, veteran, disabled) Save or Homes tax cap or secondary home. Down here in sunny FL using the tax value is not a good way to get a listing price. even our appraised values are not reliable anymore. Now that the appraisers are using short sales and foreclosures it changes the picture. Closed sales seem to be the best guide here and possibly in your area. Get at least 3 opinions from 3 agents, any referrals of agents would help and use your gut when picking a person to represent and market your home.
You might find two recent blogs of use - all about agents and this biusiness we're in:
Too many sellers price their house at or above the competition and then reduce reduce reduce. All they are doing is chasing the market. The key to selling right now is to price it for tomorrows market. Get ahead of what your competition is. If there are several houses at $X amount why be one more in the mix. Price your house just below the other houses. Make it more attractive to the buyer. Buyers want to get a deal in this market.