How did we go from a 1 car garage question to Realtor bashing? I did work as a contractor, as a Realtor in the area, and grew up on 48th and Abbott. First, start over and look at all the negatives in the house. If the interior and exterior are in good shape, newer kitchen and bath, your Micro Location(block, side of street), are good. You do not back up to one of the local commercial establishments. Then go shop the competition and see how your house is priced, and it's condition compare. Do some metrics, cost per square foot, price to tax, check the cancelled and expireds for the gave up prices.
I learned some very expensive lessons about home improvements on my last flip. Payback is not there, it was all in the market appreciation. You are lucky if you get back 50%. There were some foreclsoures in 55410, they are competition. I think they call it reegineering.. One strategy would be to lower 5k and then 10k, maybe even 12k. If nothing happens, then consider the garage, at best it will cost you 8k in equity.
The Twin Cities is a corporately controlled broker market. Three brokers control 75% or more of the market place. You would expect the result would be a tightly controlled market place. The reality is the opposite. All agents are independent, paying for a majority of their own expenses. Some of the offices have 200+ agents with one or two managers, resulting in a pretty loosely controlled profession. There are plenty of rules out there, not too many enforcers. We all get angry at each other for the offenses and indescretions we commit.
Most of what has been said by the consumer and agents can be proven to be true or happened. It does not make us all good or bad. A good perentqage of us should not be selling real estate or anything else.
Most real estate was a sure thing, it would always go up. That proved to be incorrect, if you made a less than wise buy, you have a good chance to be punished in your pocetbook. Sentiment/pyschology is a good part of market conditions. Consumers want to blame Realtors for their mistakes and misfortunes and in some cases this is justified. This is called exogenous, somone else's fault. Real estate in the TC is a realtionship business, do not hire your friend or realtive. Interview and interview some more, shop and shop some more.
Any good marketing book will tell you that, as risk in buying increases, so must your knowledge and depth of detail understanding.