Would you hold off and wait for better conditions, or adjust your price to attract today's buyers?  

This involves:Filing a written appeal form (available from your county assessor's office)Providing evidence supporting your claim that the assessment is incorrectCommon evidence includes recent comparable sales, property condition issues, or errors in property characteristicsCounty Board of EqualizationIf unsatisfied with the assessor's decision, you can appeal to the County Board of Equalization within 30 days.

Property Condition & Amenities: it’s important to, “Maintain to the Neighborhood.”Key metrics for each Property Class:Class A Properties:Tenant Pool: Majority of FICO scores 680+, no convictions/evictions in last 7 years.Tenant Default: 0-5% probability of eviction or early lease termination.Section 8: Class A rents are too high and won’t be approved.Vacancies: 5-10%, depending on market conditions.Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Class B Properties:Tenant Pool: Majority of FICO scores 620-680, some blemishes, no convictions/evictions in last 5 years.Tenant Default: 5-10% probability of eviction or early lease termination.Vacancies: 10-15%, depending on market conditions.Cashflow vs Appreciation: Typically, 1-3 years for positive cashflow, balanced amounts of relative rent & value appreciation.Section 8: Class B rents are usually too high for the Section 8 program.Class C Properties:Tenant Pool: Majority of FICO scores 560-620, many blemishes, but should have no convictions/evictions in last 3 years.

@M Edouard Ok I agree most of the time but if you have nice condition older natural woodwork, pick a color that goes with the woodwork like an alabaster/off white, and don't paint the woodwork.

They’ll compare your home to others on price, condition, photos, location, and more.

They’ll compare your home to others on price, condition, photos, location, and more.

Today, your local conditions matter more than ever – and they can vary even from one neighborhood to the next.Price Trends Mirror the Buyer/Seller DivideWhen inventory and buyer activity shift, so do prices.

Sounds like you may have wasted the first showing by not having the property in showing condition.  

Quote from @James McGovern: @Eric Fernwood you mentioned "correctly prepare the property for sale" without saying exactly how does an agent accomplish this?

That's a home-run investment, I'll do those every day. $7k to getting a property in best list ready condition seems a fair average.