Relate this situation to the stock market. When you buy a stock, you pay the current market rate for that stock, and when you sell it, again you get the current market rate at that time. The price of a stock when you sell has nothing to do with the price when you bought it.
If you are in a situation where the market will not bear the cost of what you owe on your house, you need to talk to you bank to see if they will approve a short sale. It does you no good to price your home at a higher than market value because you need a certain amount. The house will most likely not sell.
This is a very tough situation that many folks are in right now. Hopefully, we will be out of this down market soon and things will get better.
The best of luck to you,
Tom Schwendler, Realtor, Partner
Colby Real Estate, Inc.
New London & Warner, NH
If you need any basic pricing help, I could help- and also note that there are many good websites that can help with home pricing, including Trulia. Good luck,
Also, be sure to put your house in the best possible light you can. Declutter and CLEAN everything! Remove excess, personal photos and collections. Put stuff you don't need in storage like extra furniture. You want to make prospective buyers see themselves living in your house. NOT you living in your house. You can get lots of advice on this from a good REALTOR and by googling "home staging". I am writing a piece on the topic which will be up on my website soon. Check in in a few days at http://www.ballouhomes.com
Be sure to price right as well. Avoid "special" incentives like closing costs or allowances. Buyers are about the bottom line. They don't need gimics. If they need something, they WILL ask.
I could go on all day, but if you find you would like to hear more of I have to say, you can contact me directly. I am always happy to help!!! No strings attached ;)