The market will tell you the truth - it does not lie. If the sellers will pay attention to and listen to the market, the truth about their house value will be evident. Agents and friends all have opinion (so do sellers), but traffic or no traffic to your listed house or condo will or should be telling you something. If no traffic is coming then probably you are overpriced. If you get traffic but no offers you are probably overpriced. It takes a willing buyer to set the real price or value of a home. Appraisers nor agents set the price, the market does. We all have opinions, some of them are even "informed" opinions, but when you get right down to it -- the market will set the price.
Check for comparable neighborhood prices at www.foustonline.com, Home searches will help you to see what the market is saying. Also review neighborhoods to get a comparison of the areas.
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