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My Realtor Interviews and Fear of Selling Our Home

WinniWoman

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Well- I took the big step this week and interviewed 3 realtors regarding selling our home of 31 years.

Very interesting experience I must say. As you may or may not know, I did interview one last month and he was very nice but never followed up with us regarding a ballpark list/sale price or feedback on anything else really, except he thought he could market it as at least a 3 bedroom instead of a 2 bedroom. I just didn't get why he did not followup. He was with Keller Williams and I got his name through a national talk radio host's real estate company. So much for that.

I then yesterday interviewed a man from Better Homes and Gardens Realty local here and he spent an hour and a half with me. He took a lot of notes and so forth. Very nice. Gave me what I thought was a reasonable estimate of $280,000- $320,000 and no higher. He said he does a 9 month contract but if we list it now it could be for 6 months. He then said that he got a 6% commission and when I balked he went down to 5%. He said this is the best time for listing the house.

Next, was a local husband and wife couple with a small company (they have 22 agents). She was in real estate for 16 years and started her own company several years ago and her husband worked for IBM and now has joined her. I liked them a lot. They sold a coworker of mine's home- who lived in the hamlet here in Pine Bush. I remember it sold kind of quickly also. She recommended her to me. They ask for a 6 month contract but said they are flexible about enforcing it. They ask for 5 % commission as well. They seemed to know the local laws and town inspectors and so on. They suggested a list/sale price of $339,000. I was shocked at this as new homes are selling for that, but she felt the house had really nice features and would show very well.

And last but not least was a guy who was also from Keller Williams and came 20 minutes late but did have his staff call to alert me. He has several women who work in the office including his daughter- he is an agent not a broker- and they are very assertive, even sending me Facebook Private Messages and cell phone texts. He used to work in retail (lowes) and also worked as a car salesman as he started to build up his real estate business. He had that car salesperson style, if you know what I mean. He operated differently from the other ones. He asked to see our home first on his own without me escorting him, as a buyer would view it. So I told him to help himself. Then he sat down with me and went over everything. He would ask for 5 % commission and a 6 month contract. He said he would start high in pricing to see what kind of bites we got within a 2 week period and lower the price accordingly until we got one. He stated $350,000- $400,000. I think this is way too high. The town assessor has the market value at $266,000 listed on our tax bill. He seemed to think this was how the taxes were calculated, but I believe he is wrong because also on my tax bill the assessed value is listed at $175,000. He also did not seem as knowledgeable about the town inspectors here and so on. He has only been doing this for 6 years. But he was pretty forceful.

I asked him what the weaknesses in our home were. He said having 2 bedrooms but because we have a room that could be another one or 2 bedrooms, if we got a good offer and the buyer wanted it converted we could get a contractor in to build a wall in it and make the 2 extra bedrooms. Unmmm.....I don't think so. So we would wait for the house to sell until we could rebuild this room? SMH....

Then- he suggested we replace our upstairs bathroom oak vanity, mirror, chandelier and toilet, and sinks.(These are outdated- but in excellent condition and years ago we decided to keep them as to not spend any more money on the house- especially for a bathroom we do not use. We did do some work at the time and removed the wallpaper and painted and put in wainscoting, and a seamless, clear glass shower/bathtub door and a modern mirror lighting and shelving. We also put new faucets in and also new handles on the cabinet.). Said it should only cost around $1500. Really? And I should do this work while the house is up for sale? I don't think so. Why couldn't the buyers just redo what they want?

I mean- I know these are the weaknesses but to me they are not a big deal considering what the rest of the house has to offer in terms of upgrades. I also know our home is on a slab and some people want basements- but nothing we can do about that and we do have a huge 500+ square foot 2 car garage and a big walk up attic for storage.

Opinions varied as to where the buyers would come from. The last guy said more than likely from areas within a 20 mile radius. The couple said maybe people from NYC who would want a weekend getaway or just to get out of the city altogether. Or whoever would value privacy. The first guy said maybe someone like my husband- a hunter, a hiker, etc. Or maybe just a family like ours and who want a lot of land.

All said it is a sellers market right now and now is the best time to be on the market. They said the end of summer it slows down and then kicks up a bit in the Fall until it dies around the holidays and winter. And who knows what the market will be like next spring?

Essentially all these realtors seem to do the same thing marketing wise. And a lot of them are in cahoots. We were going to try to sell the house ourselves and if that didn't work get a realtor. Now we decided to try it in the opposite first. try the realtor and then if no good results try ourselves.Not sure what is really best. I hate paying that commission, especially since anything we purchase is going to be more money then the proceeds from the sale..

So- I am experiencing a lot of FEAR. Maybe it is telling me to put the house up for sale NOW. My husband thinks we should. I told the realtors we have several vacations coming up we will not cancel - not just our VT and NH timeshares but our big UTAH trip- so we have to work around that. I am, of course, worried (what else is new?) because we go to UTAH the week after Labor Day week. (therefore after school starts)

And-If the house sells we will have to find a local rental to move to and put our stuff in storage before we can buy our forever home wherever it might end up being. I keep going back and forth as to selling the home or not, even though that has been the plan. But now that reality is setting in I am having second and third and fourth thoughts.

When you have something to move into that you want, it is one thing. When you don't know what you are getting into- it is scary. Essentially I am freaking out! Once it is sold- there would be no going back. Our home will be gone. Not even to mention all the logistics of moving and then knowing we will have to move again pretty quickly after that. OMG....:eek::eek:
 
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Talent312

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I can't say anything about realty peep, but I will say that when I sold my last house, it was priced too low as it was snapped up very quickly. OTOH, you don't want it getting stale by setting the price too high. I might try to find some comps on my own to see what's at least in the ballpark.

The BR's... I'm told that, if it has a closet, you count it as a BR. But if no closet, then it's an office or a den, or perhaps a playroom, man-cave or she-shed. I'd advise against home improvement projects (other than painting), unless something desperately needed updating (like our kitchen was).

Let the buyers imagine how they can change it to suit their style. IMHO, decluttering and emptying closets should be the highest priority. That will help them see the possibilities. ... Good luck.
.
 

GrayFal

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Paint is your friend.
Your outdated bathroom cabinets and kitchen cabinets.

If you have a room that can be split into two bedrooms and small closets turning your house from a two bedroom to a four bedroom THIS IS HUGE.

Probably spending a month updating paint colors,
painting outdated cabinets, buying inexpensive (under $100) Home depot light fixtures would go a long way to helping you sell.

Wish i was closer, I would come help you stage your home.

Possibly look into a local staging service.
 

WinniWoman

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I can't say anything about realty peep, but I will say that when I sold my last house, it was priced too low as it was snapped up very quickly. OTOH, you don't want it getting stale by setting the price too high. I might try to find some comps on my own to see what's at least in the ballpark.

The BR's... I'm told that, if it has a closet, you count it as a BR. But if no closet, then it's an office or a den, or perhaps a playroom, man-cave or she-shed. I'd advise against home improvement projects (other than painting), unless something desperately needed updating (like our kitchen was).

Let the buyers imagine how they can change it to suit their style. IMHO, decluttering and emptying closets should be the highest priority. That will help them see the possibilities. ... Good luck.
.


Exactly. Thanks. The house has been upgraded over the past 5-6 years- everything done- painting, new kitchen and master bathroom and downstairs bathroom. Floors refinished. New wood stove. Yes- the big room that could be made into a bedroom or 2 bedrooms has two closets. And- our home has no clutter whatsoever. Closets and drawers are all neat. I am a neat freak. Every realtor said it will show really well. I am OCD- and we live a simple life.

I do hate to leave it. All the upgrades we did- they are "mine". I love my kitchen and my expensive stove in particular and glass tile backsplash. Our wood floors. Our steam shower. Our bathroom tiles. All my taste. The views out our windows. Our fireplace. When we move we are back to using someone else's old stuff. This is going to be so hard.

Meanwhile, I just realized I ordered a truckload of firewood special cut at 14 inches- $500. Now what do we do? Do I cancel it?
 
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WinniWoman

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Paint is your friend.
Your outdated bathroom cabinets and kitchen cabinets.

If you have a room that can be split into two bedrooms and small closets turning your house from a two bedroom to a four bedroom THIS IS HUGE.

Probably spending a month updating paint colors,
painting outdated cabinets, buying inexpensive (under $100) Home depot light fixtures would go a long way to helping you sell.

Wish i was closer, I would come help you stage your home.

Possibly look into a local staging service.

Thanks!
But-
Our kitchen cabinets are brand new. Everything in the house has been painted and updated. Only the third bathroom has the oak cabinet, but it does have a granite counter and new crystal handles I put on it. New brushed nickel faucets on the sinks. I did put the chandelier in there so it is new- but I admit it looks out of place from the rest of the house. We put in new mirror lights (on the sides of the cabinet mirror) as well. And an expensive glass tub door.Wainscoting. Brushed nickel shelving. All painted and decorated. Did what we could without going overboard. We don't use it. The bathroom is very clean and usable. No chips in the sinks or anything like that. But it is the old 80's mauve color fixtures. A buyer could do the work easily to their own taste.

Our home does not need staging. The realtors all say it shows great.

This is why it is so hard for me.
 
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WinniWoman

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Let's face it. People still have to paint when the seller moves out. Once pictures come off the wall, there are holes and shadows. So I don't get people's fixation with paint. That said, the paint colors here are all neutral except the green in our study.
 

GrayFal

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Our kitchen cabinets are brand new. Everythng in the house has been painted and updated.
Our home does not need staging. The realtors all say it shows great.

This is why it is so hard for me.
After reading your post above I can see that.

So maybe the only thing to look at is increasing your bedroom count.
If I were a yOung married couple or a one child family I would be looking for 3-4 bedrooms.

And as for your new place....you will be able to put your signature on that as well.
 

WinniWoman

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After reading your post above I can see that.

So maybe the only thing to look at is increasing your bedroom count.
If I were a yOung married couple or a one child family I would be looking for 3-4 bedrooms.

And as for your new place....you will be able to put your signature on that as well.

The one big room could work if two kids are young and the same sex- without a wall between. A closet on each side of the room. It has barn doors on it right now as well. The skylights have shades on them so they can be closed or opened.

Something we have to look into is the size of our septic tank. We think it is big (1000-1250) because the house was going to be a 4 bedroom home, but we just had the builder leave that wall out. We can't remember but we think maybe the septic tank was put in before we told him to leave the wall out. So we will see..

The room downstairs- the study- could also be a bedroom. We do have a pull out in there.

The last realtor said it could be a master bedroom since there is also a bathroom next to it. But that is crazy. Our master bedroom is very big and we have an on - suite that is like a spa. Plus- who would want a bedroom- a MASTER no less- with 4 door entrances - one to the garage- that everyone walks through daily? What was HE thinking?
 

WinniWoman

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After we get past the rental we will be forced to live in for awhile, it will be really hard to find something to buy- especially in NH- with the quality of what we have now, in our price point.

It's like we did all this work (and $$) these past few years and have been enjoying the fruits of our labor and now will be giving them up.

Meanwhile, a buyers agent in NH just sent me an email and said she has sold 4 homes in the community we want to buy in and they are almost built out which we know. :(
 

VacationForever

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Not for us. We love a home with fewer but large bedrooms. It depends on who is the buyer. I would say don't do anything to increase the number of bedrooms. If it is a working couple looking for a second getaway home, I would think their preference is like ours. Since it is a way out from everywhere I think it is more likely you won't get many young families wanting to drive the distance to schools etc.
 

WinniWoman

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Not for us. We love a home with fewer but large bedrooms. It depends on who is the buyer. I would say don't do anything to increase the number of bedrooms. If it is a working couple looking for a second getaway home, I would think their preference is like ours. Since it is a way out from everywhere I think it is more likely you won't get many young families wanting to drive the distance to schools etc.


It actually is not far from the schools or the hamlet. Just 6-7 miles away. Some families live on our road and around this area are a lot of families actually. Just a rural lifestyle, but popular school district in the next town over.

People up here are used to driving to get everywhere. Now- city people might think differently- yes.

Our next home- we just want 2 bedrooms and 2 bathrooms, a living room and kitchen- and a garage. All one level. Please - modern. I do not want to do any work.

Our current home we could just live downstairs if the master bedroom was down here.
 

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The only advice I can give is do not list it high and plan on lowering it in a few weeks. If a House is listed too high buying agents will cross it off their list and likely not look later when price is lowered.
 

WinniWoman

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The only advice I can give is do not list it high and plan on lowering it in a few weeks. If a House is listed too buying agents will cross it off their list and likely not look later when price is lowered.


I know with my parents house I priced it at the low end of what the realtors said and it sold for cash- list price- in one day. I didn't want to haggle and go through the price lowering process over months.

Now for our house- we will revisit the price again when we sign with the realtor.
 

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If it is cheap and easy to make another bedroom by adding a closet or a wall, I would go for it. We have a downstairs den and when we refinanced the assessor said that adding a closet to count as a bedroom would increase the value significantly.

Since you have a 2 bdrm house, adding a third would get it considered by families who would automatically reject the home because it is a 2 bdrm. It will also get it past assessors who will be setting limits on the value if your buyer obtains a mortgage.

Buyers have poor imagination. If you can paint the upstairs vanity white, put new knobs, paint the walls,. add a luxury rain type shower head (abt $50) and replace the fixtures, it will go a long way. However with that said, I haven't seen your bathroom so YMMV. Don't put in what you would buy - go cheap. We replaced our carpet at our last home with the cheapest carpet we could find to sell it. It looked great but probably wore out in 3 years.
 
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WinniWoman

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If it is cheap and easy to make another bedroom by adding a closet or a wall, I would go for it. We have a downstairs den and when we refinanced the assessor said that adding a closet to count as a bedroom would increase the value significantly.

Since you have a 2 bdrm house, adding a third would get it considered by families who would automatically reject the home because it is a 2 bdrm. It will also get it past assessors who will be setting limits on the value if your buyer obtains a mortgage.

Buyers have poor imagination. If you can paint the upstairs vanity white, put new knobs, paint the walls,. add a luxury rain type shower head (abt $50) and replace the fixtures, it will go a long way. However with that said, I haven't seen your bathroom so YMMV. Don't put in what you would buy - go cheap. We replaced our carpet at our last home with the cheapest carpet and linoleum we could find. It looked great but probably wore out in 3 years.


The big room upstairs does have 2 closets. It could be one bedroom in and of itself the way it is- the 3rd bedroom, or a wall put up to make it 4.

As for the upstairs bathroom, it is all repainted and the cabinet- though not painted- does have new knobs on it and the tub has a very expensive seamless clear glass half door on it. We did all that type of stuff already.
 

DaveNV

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I'd suggest listening to the professionals who make their living selling houses in your area. You need to "mentally move out," and divest yourself of emotional ownership of the home, and do what it takes to make the home appealing to a new buyer. As long as you dig in your heels, you'll sabotage your interests in selling.

If the agents think they can get ~$400K for it, WHY NOT GIVE THEM A CHANCE? Let them prove they're right, and you're wrong. You have nothing to lose, and plenty to gain. They can always lower the price if it proves to be too much. Your goal should be to get maximum money from the sale, regardless of what the tax assessors may say. It's all about buyers, and what they're willing to spend.

In my area, friends just listed their sh*tbox of a house through a local realtor group for $249K. I thought that was absurd - the price seemed ridiculously high. The house is broken down, older, and has nothing going for it, in my opinion. And what happened? It sold in FOUR DAYS, for $275K! I was floored! The buyer really wanted to live in that town, and brought in a bid well over asking. And yes, he is from out of the area.

I hand it to the pros. They know what they're doing. :shrug:

Good luck!

Dave
 
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elaine

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SIL had good but older house in DC burbs. After did not sell in 3 months, realtor took off the market for 3 months over winter and advised them to update bathrooms (perfectly fine and functional, just dated colors) and to update lighting. He had a crew that did basic but nice bathroom remodeling.
House sold on 1 week for the old piece plus cost of updates plus $10k more.
It’s hard for people to overlook bathrooms. Most don’t want a project.
Also agree with others. A 2bedroom house might be hard to sell. A 3br wold be worth it to divide before listing. Imho.
 

Passepartout

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^^^^ What Dave said ^^^^ Let the pro's do what they do. Sure, you may get offers that may force you to do what you already know you'll need to do sooner or later anyway. Better to shop with money in your hands and a date certain that a decision has to be made. PLUS when shopping for a house, CASH is KING! So you need to rent for a while, so what. Go to a timeshare for a while and weigh your options. It will work out better in the long run.
 

slip

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Just my two cents here.

You are dwelling on the past. You have to move forward. Stop thinking about all the work you put into this house and start thinking about your next chapter in life. Be thinking on how it’s going to be great and your not going to have a lot of the negative points associated with the old house.

Your worrying too much on moving and maybe having to move twice. People do it all the time, you can too. It may not be exactly what you want to do but they are steps you need to take to get where you want to be. Don’t be thinking so much in what can go wrong, think about what will be better.

You know your not going to stay there. It sounds like the time is right. Concentrate on moving forward with your plan.

Choose a realtor now and move forward. It will all work out. :thumbup:
 

WinniWoman

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I'd suggest listening to the professionals who make their living selling houses in your area. You need to "mentally move out," and divest yourself of emotional ownership of the home, and do what it takes to make the home appealing to a new buyer. As long as you dig in your heels, you'll sabotage your interests in selling.

If the agents think they can get ~$400K for it, WHY NOT GIVE THEM A CHANCE? Let them prove they're right, and you're wrong. You have nothing to lose, and plenty to gain. They can always lower the price if it proves to be too much. Your goal should be to get maximum money from the sale, regardless of what the tax assessors may say. It's all about buyers, and what they're willing to spend.

In my area, friends just listed their sh*tbox of a house through a local realtor group for $249K. I thought that was absurd - the price seemed ridiculously high. The house is broken down, older, and has nothing going for it, in my opinion. And what happened? It sold in FOUR DAYS, for $275K! I was floored! The buyer really wanted to live in that town, and bright in a bid well over asking. And yes, he is from out of the area.

I hand it to the pros. They know what they're doing. :shrug:

Good luck!

Dave


I am thinking the husband and wife realtors I would go with. They are a small firm and very locally focused. They said $339,000. Not a range, Just that number.

The "car salesman"- he was pushing towards $400,000 ($350,000 and up) and I do think that is crazy. I also do think he is off about doing more work on the house. He is the least experienced of the realtors. The other realtors said that it was great the way it is. Really- I look on line all the time at homes for sale around here and our home is so much better than a large majority of them in this price range.

That said, things could come up also- like permits we might not have gotten for some things (woodstove, generator) and stuff like that. Those things will have to be dealt with of course with the inspection. Our town is very tough on that stuff. I am obsessing about the outlet that is missing from our kitchen island and there is no way to install one.

The other man said $280,000- $320,000, so he was realistic I believe.

Real estate is so nuts. You just don't know what will sell and what won't.

We live in what all us locals refer to as "The Twilight Zone"= smack on the border of 3 counties. If we were just a short distance away in one county- same school district- there the houses go like hotcakes. Then there is another county right around the block and then ours- again all in the same school district- which is decent.
 

WinniWoman

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^^^^ What Dave said ^^^^ Let the pro's do what they do. Sure, you may get offers that may force you to do what you already know you'll need to do sooner or later anyway. Better to shop with money in your hands and a date certain that a decision has to be made. PLUS when shopping for a house, CASH is KING! So you need to rent for a while, so what. Go to a timeshare for a while and weigh your options. It will work out better in the long run.


I love the timeshare idea! LOL!
 

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One of my brothers added a BR by converting a formal dining room. He added a wall, a door and a closet. It seemed to work for him, but I'm not saying it was a great idea.
 

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Innseason Pollard Brook
Just my two cents here.

You are dwelling on the past. You have to move forward. Stop thinking about all the work you put into this house and start thinking about your next chapter in life. Be thinking on how it’s going to be great and your not going to have a lot of the negative points associated with the old house.

Your worrying too much on moving and maybe having to move twice. People do it all the time, you can too. It may not be exactly what you want to do but they are steps you need to take to get where you want to be. Don’t be thinking so much in what can go wrong, think about what will be better.

You know your not going to stay there. It sounds like the time is right. Concentrate on moving forward with your plan.

Choose a realtor now and move forward. It will all work out. :thumbup:


Thanks. Yes. I know you are right. My logical mind tells me this also. We have just lived here so long and we are such homebodies- but I am trying to look at it as an adventure! What the hell. It is now or never! I think sometimes when we are fearful it is telling us we have to take action now.

We were planning to do this first next spring. Then January 2020. Then this Sept. when we get back from Utah. And now here we are- going to do it now!

I think I will need to open the Margarita bottle this weekend. LOL!
 

WinniWoman

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One of my brothers added a BR by converting a formal dining room. He added a wall, a door and a closet. It seemed to work for him, but I'm not saying it was a great idea.

The downstairs study could be considered a bedroom.

Also- the big room upstairs would have been 2 bedrooms. Or it can be one big bedroom now that we have barn doors on it. When the house was built there was just an entrance way with no door. It has 2 closets as well.
 

Panina

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I am thinking the husband and wife realtors I would go with. They are a small firm and very locally focused. They said $339,000. Not a range, Just that number.

The "car salesman"- he was pushing towards $400,000 ($350,000 and up) and I do think that is crazy. I also do think he is off about doing more work on the house. He is the least experienced of the realtors. The other realtors said that it was great the way it is. Really- I look on line all the time at homes for sale around here and our home is so much better than a large majority of them in this price range.

That said, things could come up also- like permits we might not have gotten for some things (woodstove, generator) and stuff like that. Those things will have to be dealt with of course with the inspection. Our town is very tough on that stuff. I am obsessing about the outlet that is missing from our kitchen island and there is no way to install one.

The other man said $280,000- $320,000, so he was realistic I believe.

Real estate is so nuts. You just don't know what will sell and what won't.

We live in what all us locals refer to as "The Twilight Zone"= smack on the border of 3 counties. If we were just a short distance away in one county- same school district- there the houses go like hotcakes. Then there is another county right around the block and then ours- again all in the same school district- which is decent.
High price, mid price, low price, I would also go with the mid price Realtor. If priced too high you will get no traffic the first two weeks and then adjust the price quickly. Priced too low and you will get lots of traffic and hopefully multiple offers.

Look forward to the change. Your needs have changed and once you are at your new home the stress will be gone.
 
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