I agree with the general theme of the answers, although in some cases for different reasons. My opinions might be subject to change if I were to see your unit and know more about your circumstances.
1) That said, I generally don't recommend investing money if the market isn't appreciating comfortably or undeniably stable. It's easy to throw good money after bad and not get it back. So, NO to the renovations.
2) Yes, to pricing the property carefully and hiring an aggressive, experienced, and creative agent - and following their advice!
3) Make sure your decision to move is thought out. If you're fairly sure you'll end up in financial distress keeping the property, then being proactive is wise. We are in summer, so the market is active and that can be good from a selling perspective (although, beware the common false sense of market security - see point #2, above). If there is a practical alternative to selling that will keep you whole, then you may want to consider that. Make sure selling is something you're committed to doing before you start the process. Consider where you would be comfortable living if you sold, as quality of life should be a part of your decision.
I happen to live in Kew Gardens Hills and know the area well. Good luck no matter what you decide. I'm always happy to help. If I can be of further assistance, don't hesitate to let me know.
Diallo J. Stevens
CENTURY 21 Best, Inc.
YouTube Channel: http://www.youtube.com/DialloStevens
look at everthing before giving you a life chaging event.
If you have additional questions, please direct them
to me or need an agent feel free to call.
My Direct # 347-813-1290.
Here is my website http://fajardodelacruz.realtors.officelive.com
or my e-mail firstname.lastname@example.org
Hope to hear from you soon.
With regards to the renovations, I never advise sellers to put the money into it. Although kitchens and baths add value, they are also a matter of personal taste. What you may find attractive, other potential buyers may not like. With a 1BR unit, the increase in value with a new kitchen or bath, if any, would only be marginal. Better to have the home professionally staged, price it realistically per condition, hire an aggressive agent who can give it maximum exposure and call it a day. Find more tips on selling at our website http://www.teammd.net.