As far as comps go. I would check recent pendings. I think it is safe to say that the majority of them went into escrow for a ballpark estimate of 5% off list price . You have to start somewhere.(In thi market list price has oftern been reduced a few times before an escrow) If I were motivated to sell something I would start a little lower than the best pending comp but be willing to get to 5% below a pendings based comp after a few weeks and work from there. Probably take something like 3 percent off a month later. That is very competetive. I would adjust according to the number of sales and other feedback from the sub market and also traffic to the subject property.
