In your situation, you may actually have to talk
to several Realtors, get their opinions, and come up with some sort
of consensus. Without knowing why there are no comparable properties
in your area it is difficult to give another suggestion. If your lot
or home is over-improved for the area, that means the value will
most not likely be what you think it is. If your home is much
larger, you might not get the same cost per square foot as other
homes in the area.
So I would talk to a bunch of Realtors and get their opinions. I
would not recommend hiring an appraiser, however, even though a lot
of books recommend this. Appraisers are better at "justifying" a
price than in determining market value.
Why should I use a real estate salesperson?
A real estate salesperson is more
than just a "sales person." They act on your behalf as your agent,
providing you with advice and guidance and doing a job - helping you
buy or sell a home. While it is true they get paid for what they
do, so do other professions that provide advice, guidance, and have
a service to sell --such as Certified Public Accountants and
The Internet has opened up a world
of information that wasn't previously available to homebuyers and
seller. The data on listings available for sale is almost current -
but not quite. There are times when you need the most current
information about what has sold or is for sale, and the only way to
get that is with an agent.
If you're selling a home, you gain
access to the most buyers by being listed in the Multiple Listing
Service. Only a licensed real estate agent who is a member of your
local MLS can get you listed there - which then gets you
automatically listed on some of the major real estate web sites. If
you're buying or selling a home, the MLS is your agent's best tool.
However, the role of an agent has
changed in the last couple of years. In the past, agents were the
only way home buyers and sellers could access information. Now
agents are evolving. Because today's home buyers and sellers are so
much better informed than in the past, expertise and ability are
becoming more important.
The real estate agent is becoming
more of a "guide" than a "salesperson" -- your personal
representative in buying or selling a home.
We were set to close and the seller now wants to set up new
closing date. Can i get them to come down off the price of the house
and anything else you think that would help me?
The seller may have had legitimate reasons or perhaps not. You can attempt to renegotiate the price if you choose to, and this can be looked at several ways. Once you make your offer to purchase the house at a lower price, this can be looked at as a new offer, which can nullify your original offer.
Most likely, you are going to just have to decide whether you like the house enough to go ahead with the purchase.