Not sure what to do. Listed it in March, then COVID hit. We're paying mortgage on it ever since. seems to be a total buyers market with condos like mine for sale everywhere. near me. We've reduced the price.
I looked into renting it out, that would take about 45 days for the property management company to screen tenants, list it, show it, sign a lease. I'm out of state, closing on a house. Want the equity to rebuild savings and probably install solar on the new house. Renting it out would expose us to risk and probably wouldn't make much each month, just getting off a payment and have someone give us equity.
It seems to be picking up with more viewings but every feedback we get is clear people have lots of options - everyone comments how lovely the place is but wants more light here, doesn't like the common area, etc. Our realtor let the listing expire by mistake and we got a ton of calls from agents, one of them claims to have sold a bunch of places recently, says he has documentation showing all the properties he took over that were on the market already for weeks/months and sold them in a much shorter time, not gonna lie, it sounds believable.
We can continue to pay this mortgage for quite some time. But not sure what direction I should go in. I was thinking about sticking it out through July if nothing, asking my realtor to delist it and going with someone else (Delisting I believe would expire the agreement w/ my current realtor). To make things worse, she's a friend.
Any thoughts?