I sold my house in the spring of 2006 – priced it at the low end of the range of properties listed for sale in that area – and it sold very quickly. All my neighbors thought I sold it too low and were mad at me for ruining the comps. Well, now the values in that neigborhood are 250K below what I sold it for! Actually, a couple of the people that told me I was selling it too cheap actually lost their homes to foreclosure.
More recently, I have friends that have been trying to sell their house this year but have listed it a little high as compared to actual sold comps and at the high end of the range of listings. They actually refused an offer because it was 20K or so below what they *thought* it was worth. Well, they are still trying to sell it!
