Keith Sorem

Roger
Assuming your home is listed with a Realtor, your Realtor should be able to share with you the number of properties with which you are competing and what they are doing to compete. As a matter of fact, your tactic sounds more like someone selling without professional representation than something a Realtor will suggest.

let me explain:
Buyers shop in price ranges. Usually a home needs to be priced correctly within 5% of the selling price. So on a $200,000 home, you need to list it no more than $5K above, or $5K below market. Most markets are declining, so you'd be better off pricing it $5K below market to attract showings.

In most markets you need 10-12 showings to get an offer. So if the market is soft, you might need 20-24 showings to get an offer.
No showings in the first two weeks means the price is too high, no offer, same .

The buyer that first sees the home they purchase sees it with a Realtor 90% of the time, so you need convince three people that your home is a good deal: The Buyer's agent, the buyer, and the lender.
Why the lender? Because they will not fund a loan on a property that sold for more market value.

The assessment idea makes no sense, the value will be re-set when the property changes hands. - Earlier today

Steve
I gather from your post that you are selling without professional representation.
So let's look at the facts:
When you bought your home, did you use the services of a Realtor? Why? Because we work for "free", right? So, doesn't it make sense that other buyers will do the same the you did?

As a matter of fact, the buyer that sees the home the purchase for the first time...sees is with a Realtor 90% of the time. So that would leave 10% that see it on their own.
Also, NAR sales statistic for owners selling without professional representation, 5% of the time they sell to someone they know, 5% to someone they don't know, the rest of the time they end of listing with a Realtor.

So, just so I am clear on this, by selling on your own you are targeting less than 5% of the market.

Let's look at the buyer's side. There are many homes, like yours, for sale. What would make your home stand out?
1. Realtors need to know about, so you need to list it with a Realtor.
2. Realtors need to show it - so it needs to be priced correctly
3. It needs to be a good deal. If the market is going down, then although you may not be in a hurry, you might be losing money each month as prices drop. How to make your home standout? One way is to offer a buy down program with a lender. A buy down program will instantly make your property more affordable, and will probably be cheaper than cutting the price.

Ask a Realtor for details - Earlier today

I suggest talking with a Realtor that knows the market. Look at the compeitoin, how does yours compare now, what would you need to do to make your the "best deal" in the market area?

I like your thinking, the true question is what is the competition doing? - Yesterday, 16:12

Ms. Troubled
I have some concerns:
First, has the buyer removed all the contingencies, particularly the loan contingency? If he has NOT removed that contingency, then (check with your Realtor or an attorney on this), he can cancel with no penalry (normally).
Second, if he has removed the loan contingency, he has probably removed all the rest. It is now a question of "failure to perform". Without the downpayment the lender will not fund the loan.

Third, normally the earnet money deposit is use dto open escrow, then an additional downpayment is made within a certain time frame as an "additional deposit subject to liquidated damages". This is something that your Realtor should have been watching.

Was there are question "Gee, I wonder if tthe buyer has the deposit?" or "The buyer did not provide proof of funds for the deposit, heads up!" A sharp Realtor keeps track of things like this to avoid nasty surprises. In other words, it should be be evident to competent people until the last minute that there is a problem.

Consult an attorney for clarification. - Yesterday, 16:10

Deborah
I suggest that you consult with a local Realtor. Look at other homes in the area that are similar to yours and see what features they have. I can tell you that buyers are looking for VALUE, so anything that adds value (such as lower heating bills) a buyer will appreciate. However, there are tradeoffs.

How long do you plan to stay in yoru home? Long enough to enjoy the improvements?
Generally speaking the value of investments are recouped in bath and kitchen remodels, because who make the buying decision? Other necessary, but less noticeable investments, like the roof, plumbing, have value, but the return on investment is lower.

Are you making your home more livable? Or treating is like a flip?

A Realtor can help you work through those questions.

Good luck! - Yesterday, 10:57