Did you have your appraisal for bank purpose? If so, it seemed that if you would have needed $490,000 you would have gotten that price on your appraisal. They have tightened up with all the financing problems going on now. As far as value goes, call a local realtor and get a CMA (comparative market analysis) this will tell what your home is worth, meaning what a buyer is willing to pay. Then you might get your percentage rate, only if your $470,000 was based on the market. If you are wanting to sell, think of this, you might be losing money on your sale, but you will gain at another purchase if the home is price within the market.