http://www.trulia.com/voices/Home_Selling/How_low_do_I_have_to_go_I_m_struggling_with_compa-65540http://www.cbeastwestrealty.com/listings_detail.aspx?MLS=143471 This neighborhood is unusual, lots of older homes, small lots, many converted to college rentals. Mine is unique, 3 bed/2 bath/2 car garage, all updated, probably the second-nicest house on the block (by no means the biggest however). My realtor seems to think my price is fine, that it's just the economy. I have had 6 showings in 5 months and not one offer. I need a solid figure, how low do I have to go? I have a number that I can not go below (to pay mortgage balance and realtor fees), I need to know if my list price will cover that. I HAVE to sell-I built a new home (moving in 11/7/08) and now I have two mortgages. I can not rent (legally)-weird rental licensing rules in this town prevent me from getting a license. HELP HELP HELP!en-ushttp://www.trulia.com/voices/profile/Real_Estate_Pro-Minnesota-277544/http://www.trulia.com/voices/profile/Real_Estate_Pro-Minnesota-277544/Scott, Just a quick point. 50/50 cobrokerage commission are not very common in this area. While I agree with it in concept it would mean that the seller would need to be wise enough to agree to pay the listing agent more than the prevailing rate so that they still earn the proper amount of money to list the property and the buyer's agent gets a good fee as well. It is a great concept, but we don't see it here all that often. Cameron PiperThu, 30 Oct 2008 16:26:32 -0700http://www.trulia.com/voices/profile/Real_Estate_Pro-New_Hampshire-193012/http://www.trulia.com/voices/profile/Real_Estate_Pro-New_Hampshire-193012/Correct , it is all about price, in this market it takes a house to get to a price point in which people are interested in making an offer, unfortanately it means lowering the price until you hit that price point. you need to make sure your broker is offering a 50/50 cobroke fee to buyer brokers in mls and that your house is being advertised each and every week. you could get a licensed appraiser in to do an appraisal so you can get an independant value from someone with no ties to what you sell it for or if or if not it sells. good luck with your sale.Thu, 30 Oct 2008 16:12:51 -0700http://www.trulia.com/voices/profile/Real_Estate_Pro-Maple_Grove_MN-70635/http://www.trulia.com/voices/profile/Real_Estate_Pro-Maple_Grove_MN-70635/It is all about price. Have your Realtor do a new CMA using only solds in the past 3 months to come up with a price that your home would sell at. If that price is to low, and you cannot rent it out, call your bank and ask if they can help with your mortgage. They may be open to a short sale because of your situation. Hope this helps. Brad Anderson www.BradAndersonHomes.comThu, 30 Oct 2008 16:07:05 -0700http://www.trulia.com/voices/profile/Real_Estate_Pro-Minnesota-277544/http://www.trulia.com/voices/profile/Real_Estate_Pro-Minnesota-277544/Mt, Unfortunately the best advice I can give you is to drop the price to your lowest number (I am assuming you aren't far away otherwise you probably wouldn't be posting here) and let the house go. If I might quote a wise person that I have heard speak before "To heck with the cheese, let me out of the trap." You see you are like a mouse that has been caught in a trap (your house) and you are desperately trying to get out of there while still walking away with some of the cheese (equity). However, the best thing that you can do is open your hand, let go of the cheese, and slide your hand out of the trap. If your lowest price doesn't bring you an offer, you will need to begin to work on a short sale or put the new house up for sale (I would recommend doing this anyway) and see which one sells first. Keep in mind that your credit will take a big hit with a short sale and many banks are onto the buy and dump idea so it may be difficult to get the sale approved. Let this be a lesson to everyone reading who is thinking of buying another house before the one that they currently own sells. Now that I have chided you, let me reassure you that if this is the worst thing that ever happens to you in life you will be doing pretty good. Time heals all credit wounds and most people can work their way out of nearly all financial setbacks. Keep in mind that the most important thing you can do is hang onto your family throughout this. While you are feeling the pinch with the two mortgages, prioritize your expenses and as the money comes in, pay them one by one until the money runs out. Keep food on the table and the lights on first, everything else is secondary. Keep us posted on how things are coming and be sure to let us know if you have any other questions or need any more help. Cameron PiperThu, 30 Oct 2008 16:04:22 -0700http://www.trulia.com/voices/profile/Real_Estate_Pro-Minneapolis_MN-57154/http://www.trulia.com/voices/profile/Real_Estate_Pro-Minneapolis_MN-57154/In such an unusual neighborhood it may be tough to get comparables to get an accurate number however the market will bring a value to your property no matter what. I would do some price drops (at least $5k in my opinion) on the property till you see more activity or an offer. Continue to do so till you receive an offer. Price will sell the property and comps will get you nowhere if you are not getting showings. I cant stress PRICE enough in this market. Drop the price till it sells. Its probably not the news you wanted to hear.Thu, 30 Oct 2008 15:02:11 -0700