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House selling/pricing ?

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On a whim I did a search for houses in the area that had one more bathroom and a bit more space than the house we are currently in. One house popped up and it is perfect! It's basically our house layout now but on steroids. :D The previous owner did an addition that is amazing and literally everything on my wish list for my current house is completed in this other house! And the price is unbelievable, too!


Now the downer: When our realtor sent us comps for houses that have sold in the area the price range was far below what we had thought we could list our house for. We've contacted the realtor and pointed out that of the four houses he used, three were foreclosures and one is on a very busy street. We've asked if the condition of our house and its location have any factor in the price and he insisted that he could only price our house based on similar houses that have sold.


I knew the housing market was bad and that the amount of foreclosures could force our price down yet not to this point! Am I foolish for thinking we could actually price our house 10K or more higher and get an offer? My thinking is that our house is move-in ready whereas the foreclosures are typically in need of moderate to severe work.


We've never bought/sold in a market like this so I don't know what to expect or do at this point. Thoughts?

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Foreclosures around here are, indeed, priced lower than owner occupied homes. I'm not sure why the real estate agent can't give you an accurate price point. I wonder if he believes the price he gave you is indeed what the market is currently. Maybe talk to someone else--preferably the agent who is a (or the) top seller in your community.

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