I need some advice on how to proceed with my house in North Dakota. It's in a small town 20 minutes from Minot. I bought the house in 2013, the market in the area was hot due to the oil boom and flood that had damaged many houses. Well, the market cooled right down by the time I listed the house for sale in May 2018. I'm in the military, so it's hard to keep up with the house from a distance. It sustained $5600 in damage when the radiators froze up despite the electric heaters I had on thermostats to prevent such a disaster. That, plus paying mortgage and bills on an empty house is getting really tiresome.
Numbers -
I paid 146K for it
County appraises it at 149K for taxes
It is listed for 139K, had 2 showings in almost a year now
I owe 128K
I've been hesitant to rent it out. I'd much rather sell, and I can't see renters wanting to go month to month. Having renters on longer term leases would hinder selling it I'd think. I would definitely rent if it doesn't sell by winter, I can't have it vacant over winter again. Considering my mortgage payment (960), rent would come up short of covering that. I suppose anything is better than paying for the ghosts who live in it now.
Should I chop the price in an attempt to dump it?
I don't even really want to talk foreclosure, but can the bank see that I have assets and come after those? I'd be rid of the damn thing, but at what cost?
As you can see, I'm fairly clueless on real estate. Just took that terrible conventional wisdom of "buy if you're in place for 4+ years" and called it good. Any tips or other options welcome, thanks!