Spent a year painting, replacing carpet and sprucing up my fathers house and our house. My father's house sold for asking price the first day it went on the Multi-list. I put a "for sale by owner" sign in front of our house with the price I was asking for the house on the sign. I had several neighbors call to tell the neighborhood was worth more! I did a lot of research on what homes were worth in July 2011. The value was what my home would have sold for in 2002. I sold my home with just a sign out front in 4 days! In 43 days we sold 2 houses, empty them, went to settlement (1 house was 2 days late because of the bank) and move to TV in a U-Haul. My Brother just sold his house 3 weeks after it hit the Multi-list. He spent 6 months removing wall paper, painting and sprucing up. His house sold for 2003 prices which is $60k less than he paid in 2006. It may be hard to take less than you paid, but you have to decide where you want to live and how much snow you want to shovel!