Rural real estate comps
My wife and I are trying to sell a home in New Washington, Indiana, near Louisville, Kentucky. We're in the process of talking with agents right now to find the best fit. I posted this topic on one agent a few weeks ago:
http://www.biggerpockets.com/forums/21/topics/129173-is-this-agent-commission-ok-normal
As for the background on the property, it is a 2010 built 2,000 sqft two story 3/2.5/2 with the bedrooms being on the second floor. There is also a game room/open area between the three bedrooms. It sits on 1/2 an acre. It's about 40 minutes from downtown Louisville. It has been appraised at $163k
We've just talked to three realtors with the first being the 8% commission realtor in the referenced BP post. One of the other realtors suggested a list price of $145k and to come down if needed. The last suggested we list for $130k which just seems crazy to me. Being that the property is in a rural area, there aren't many comps. the realtor that suggested $130k had a 1955 built home as one of the comps.
So, what is the best way to comp a new and nice property when there aren't many similar properties in the area? Obviously I want to be realistic on the sales price but I do not want to settle for a $30k+ discount on the home price when reliable comps cannot be found. Thanks!