However, within the context of the sales activity that is actually occurring, the price for this particular property may be a very reasonable starting point.
What sales activity are you measuring?
In this market unless a house is very aggressively priced it is not moving. How is reducing a home price by $5k since it’s August 2006 comp a reasonable starting point? The home is going to languish on the market just like the multitude of others which are overpriced.
My point is that this is yet another dellusional seller who is refusing to believe that the market has turned and is declining.
