Thanks for the info about the cap gains losses, apparently I got bad info on that. At least there will be no cap gains tax on it since it is worth less today than it was at the time of death.

Temeculaguy, while I wish I could say the price drop was based on your advice, my husband actually made the decision without my input yesterday afternoon. Am not thrilled about the way he did it, but OK with the result, as long as the thing sells. The comps are all out of whack, but the agent has been seeing sales in the neighborhood in the $250k range for similar houses. While this one is kind of junky, it is a larger house (most of the houses are 2/1, 1000 square feet; this one is 3/1, 1410 square feet).

In all, a very different situation than when I put my 1200 square foot 2/1 on the market in 2003 and it sold the same day for the asking price….