Repairs before selling

[Barrett Boone]

When do you do repairs before selling vs lowering asking price?

I am in the process of selling a house out of state. It's been on the market for about a month now.  Many of the people who've seen it are saying that it needs to much work.  It needs to have some of the siding replaced and repainted, the kitchen could use updating but not necissary. 

I was quoted:

 $18800.00 for all new siding

 $6500.00 for siding just patch and just patch wood trim around Windows as needed

 $4300.00

if i just did siding where needed it would be $10,800 total

So, would it be better to may the 10,800 and keep the price the same or even increase or should I just lower the asking price?

Prop info:

ask: $199,900 

4 bed 3 bath ( with "study" that was used as an additional bedroom)

in a college town, blocks away from campus

caveat: its in a neighborhood where no more than 3 unrelated people are allowed to live together