I mean if we want to get 430k for our house, should we ask 1% more because they want to bid lower than the ask price?

Normally I would say yes, but nowadays a house needs to priced to sell to actually sell. I have noticed that houses that are prices lower sell quickly, like within days and even for more than the asking price. A house that is "marked up" will most likely sit there.

Remeber that you'll probably get a lower selling price for your house, but you'll score when you buy. We are faced with the same dilemma....we know that we'll have to sell at a low price, but we'll make up the difference when we buy.

Welcome to the board, BTW! We are a small but supportive group here!

I'm in the real estate industry. This is definitely a buyer's market. If you have your priced at $435k and your neighbor up the street with a similar house had their's priced at $430k, which one is going to have the most lookers? There is so much competitition out there right now. The market is flooded with below-market priced houses because of all the recent foreclosures. Price it to sell at what you expect to get, especially if you have a deadline to move to the new place. If you have time, go ahead and price it up, but then expect it to sit for a while, unless you have a bomb-diggity location that would sell the house at any price.

Good luck! The up side is that it's definitely a great time to BUY a house once you get there!

I think most people put their first offer in at about 10-15% less than what the house is listed for. Just to see what response they get.

Good Luck selling!

Thanks everybody. The issue we have here in skokie is that many home are OLD and are getting re-habbed. So a 3 bdroom 1.5 bath house can be listed at anywhere from 375-475k! Based on whether its been updated or not. We have put 50k into our house updating all the rooms (kitchen/batch/basement) so we are pricing ourselves right in the middle at 449. I hope it sells quickly but I hate to list it at 420 or 410 when you have to pay a realtor a good chunk.

The good news is that w havent even listed it yet and have shown it to 2 people already. Friends of neighbors that want to get into this neighborhood.

Should know something within a week, otherwise we list it with a realtor.

Thanks again.

Wow that is good news! Things sound like they are moving quickly for you guys.

Where exactly are you moving in NC? My in laws live in Apex and we visit them often! We can finally meet!

we dont have an exact date since we have to wait until our house sells before buying a new one. If I had to guess I would say may/june.!!! Oh i hope we can meet IRL one day.!!