Check our your local paper and visit some property management firms in your area. Ask for lists of properties for rent and if you have time, even drive by to look at neighborhoods and general areas. You want to be competitive with what other houses are going for that area the same number of beds/baths/square footage and even comparable neighborhoods... more
What's interesting is that even more homes have sold above $400K this year than last year. It's just that there are more homes available than have been sold. A real estate agent will be able to tell you what similar homes in the neighborhood have been selling for, but in the Triangle area, homes are still selling at 95-97% of asking price. On a $669,000 home, that means that in most cases, the average seller accepts an offer of no less than $635,550. In a sought after area with a home in a hot price point, offers are still being written for above asking price.
Of course every situation is different, and this seller may be more motivated than others, but a discount of 25% seems unlikely. There are very, very few builders with that high of a profit margin!... more