David & Brandee,
Congratulations on getting your house leased in March 2009! Renting would have been my advice as well if I had seen your post in September! I have leased homes for other military families (and others) who chose not to take the deep hit. I live only about 4 blocks away from your house. Since I also own some rental homes, I am experienced as an owner as well as an agent. No one knows for sure how long it will take to turn it all around and get closr to your purchase price. Only time will tell!

Maybe you willl be able to move back some day? After your renting is "seaasoned", you may even be able to buy another home in a future location. If you bought right, you have made your first investment,, and I wish you many more! My first home in Titusville was VA and I was so nervous about the price and payments. It was the springboard eventually to several others as we outgrew our first home!

Have an awesome rest of the year!

As a Realtor in the Titusville area I can tell you that now would be the best time to find a Realtor and get the property listed.
As the colder months come, investors and "snow birds" will be initiating their searches for properties in the area in Sept. and Oct.
I can also tell you that the activity in the market has increased in the past month both locally and on the internet. I have been receiving inquiries from out-of-town prospects through the various avenues that my company uses to reach potential clients and customers.
I would also recommend you consider listing the property for rent, or lease option. Your Realtor can explain the process of lease option if you are not familiar, and answer any questions you may have.
With the amount of activity that is in the area this time of year, you have more options than you may have had in July or August.

Stay in Florida, Wisconsin is cold in the winter. Brrrrrrr. Good Luck

November traditionally begins to increase property buying activity in Florida, but the market gets into the best selling time from January through April in the winter season. You have unfortunately decided to sell in a down market for sellers. You may not be able to sell for the price at which you purchased. Think long and hard though about whether to price your home to sell and bite the bullet now or deal with maintaining a Florida home long distance and gradually follow the market which may be down some more before it starts to stabilize and slowly increase. The recent national financial crisis certainly increases the stress on the housing market.

Another idea is to hire a Realtor to lease the property so that the Realtor will manage and check on the property in your absence. If you can hold on with a lease that will NOT cover your expenses but only help to offset your costs partially, then this might be the best answer. Be sure that you have your Realtor screen the applicants for credit report and references. You should have first month rent, last month rent and Security Deposits in place also. Good luck to you.