Rochelle, it is impossible to suggest what a good price is based on the information provided. A Realtor must perform a CMA or at the very least know the subdivision very well to suggest a good asking price and with the information you have given us we have no way of knowing what a good price is. Prices have declined since 2007 however numbers have to be run to see what the comparable sales show. Are there a large number of short sales and foreclosures in your neighborhood? How much have home prices declined in your neighborhood since you bought the home. Hopefully the Realtor has based the $161,000 on that. Did the Realtor show you all the comps in the area? When you saw them did the price make sense? If not then maybe you need a second opinion from another Realtor or you can always pay for an appraisal to confirm the price or to find a better price. Make sure whichever Realtor you choose can show you why that price is right.
Also you are the boss and determine the price you want to ask. The Realtor can only advise you on what the comps show, but it is ultimately your decision. With that said, if you decide to ask more than a Realtor can realistically sell the home for, most professional Realtors will decline to take your listing. That is because they have to spend money and time to market your home. They only get paid when the home sells, so a good Realtor will not want to spend money if the home is overpriced.
My recommendation is to interview two to three agents, go over their CMA and comps with them and determine which agent you want to work with, but do not just choosed the Realtor who gives the highest price.
If I can assist you, feel free to contact me.
Sincerely,
Jeff Launiere, P.A.
Real Estate Consultant
Keller Williams Tampa Properties
813-469-3163 (Direct)
800-622-0886 (Fax)
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- A few hours ago
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