Richard Peebles

April, Certainly the commission the agent would earn would not influence your agent from trying to get the house for the price you want, if he or she can, because even a $25,000 reduction in price wouldn't effect the agents commission enough for him or her to worry about it. So maybe the price is right, but I also can't imagine a seller in this market being stupid over 3K. And someone has already correctly answered the apprasial part of your question. Good Luck!
Richard - Thu Nov 13 2008, 14:12

Mike, here is a very informative article just published that addresses your question. The whole article will not fit into the space Trulia allows, so to read the whole article, and it's worth it, go to my website and view my blog, http://www.BALTIMORES-BEST-HOMES.com
regards,
Richard

In denial: Homeowners believe their own home's immune to tumbling prices nationwide
• J.W. Elphinstone, AP Real Estate Writer
• Monday November 10, 2008, 3:44 pm EST
The housing market may have bust, but many homeowners are still living in a bubble.
Despite dismal housing headlines and reports showing falling prices nationwide, owners in some once-hot areas still believe their home is gaining value or at least holding its own. And by hanging onto too-high expectations, sellers are unwittingly keeping the market from finding a bottom.
Real estate professionals across the country are reporting difficulty convincing sellers the true market value of their homes.
"It's like pulling teeth in this market," said Twyla Rist of Reece & Nichols Realtors in Kansas City, where prices are off between 7 percent and 15 percent. "Even with everything being said, you still have people that think my house is better than everybody else's."
A recent Coldwell Banker report showed that more than three-quarters of its real estate agents surveyed said most sellers have unrealistic initial listing prices for their homes.
Likewise, an unscientific study released last week by real-estate Web site http://www.Zillow.com found that half of homeowners polled think their home's price has increased or stayed the same in the past year.
"We expected people to get a little more in touch with reality especially over the summer, because you couldn't turn on the TV or read the newspapers without seeing that home prices are falling," said Amy Bohutinsky, a spokeswoman for Zillow.com. "It was very surprising to see this kind of disconnect."
In fact, the median sales price of an existing home dropped 9 percent to $191,600 in September from a year ago, according to the National Association of Realtors.
It took John Cicero and his wife an appraisal, some convincing by their real estate agent and some hard-to-swallow facts to get them to lower the $525,000 listing price on their five-bedroom home in Valrico, Fla. They closed two weeks ago for about $380,000......................read the rest at my BLOG - Thu Nov 13 2008, 13:34

Hi Jeff, it's a simple answer, recordation and transfer taxes are Traditionally split between both parties, therefore the buyers TOTAL closing costs include their share and the sellers contribution is applied to the TOTAL closing costs. What part of Maryland are you in?? - Tue Aug 12 2008, 16:23

Hi Christine, Depending on the zip code there has been some "dips", but average is average, the mean # reflects a better picture. Regardless, if one plans to buy and live in the home for 5-years, this is still an excellent time to buy. Any further depreciation will correct itself an then some over 5-years, rates are still low, there are plenty of wonderful homes to choose from and sellers are paying the buyers closing costs. One can pretty much, with good credit, purchase a home with as little as $2,500. This is based on my over 17-years experience as a full time realtor in Baltimore. - Sun Jun 29 2008, 06:07

Hi Cait, I can think of a few neighborhoods in the Towson area where this home maybe located. I've been selling real estate in the greater Towosn area for over 17-years, I'm pretty sure I can locate it if it's still available or find you one similar. I'd like to know where you found the picture. Go to my website listed below and email me, I'd be my pleasure to help you! - Tue Jun 24 2008, 10:48