"Price sells" is the motto in the current real estate market. Getting an appraisal from a reliable source is, in my mind, the best place to start in determining an asking price. Tie that together with info on comparable properties that have sold in your area recently and you've probably got the bulk of the pricing formula addressed.
I wish we'd have gotten a reliable appraisal about 3 or so years back when we began the sales process for our previous OH home. Instead, I (foolishly) relied solely on pricing input from our realtor friend who was going to list the place for us. Long story short: After almost a year of having the house on the market, we got tired of getting some lookers and no offers. We'd lowered the price a couple of times (at our direction, not his, to the tune of about 15%) during the first 6 months while he continued to insist "There's no reason it shouldn't sell for that price!". He eventually grew tired of my growing disdain for what he wasn't accomplishing and encouraged us to switch realtors......which we did. New agent/company convinced us the house had been overpriced so we agreed to lower the price by another 15% and had a done-deal contract within 2 weeks. Shame on me for getting a marginally competent realtor friend involved at the start of thing and sticking with him for far too long. My bad - lesson learned.
Price it right and it'll sell! JMHO.
Bill