it's ALL about price right now and with prices down so much single family homes put the condo market at a great disadvantage. If you need to sell, take regular reductions until you can work out an offer. Otherwise, you are probably wasting time and just frustrating yourself and your agent. By regular reductions, at this time of year, I mean I wouldn't go longer than 14 days wthout lowering the price again if you don't see a decent offer. If you get ANY offer, better work it out - you may not see another one. I have had 3 sellers in the past year who kicked themselves and sold for far less later.

The reason that your condo has not sold has a lot to do with the current market. Because of the change in the economy many people that are looking to buy in the suburbs are choosing to purchase single family homes. They are finding that this type of transaction affords them a better investment for the long term.
You may want to consider renting the unit because there are MANY renters on the market right now.

Bottom line is that price is driving the train right now, especially for a condo. Being out in L'Ville where single fam homes are also all over the place hurts as well....cold and callus but drop the price until you find the range.

Hank

Hi Lynn,

Unfortunately, we are seeing significant declines in the market over the last 2 years, Of course, some neighborhoods are fairing much better than others. I have a client who purchased a condo in 2006 and we were looking at the comps today. In her case, too, it was well below what she paid for it. This was in Norcross and she was suffering about a 15% decline in market value over what she had paid for it in 2006. If you HAVE to sell, you must price it AHEAD of the market and be lower than the rest.

In another light, make sure you and your REALTOR are utilizing all avenues of marketing with lots of "good" pictures. Is it on all the popular websites? Make sure it's getting a lot of exposure. With the 1st time home buyer credit, we are all hoping that will stimulate more buyer activity this Spring; so don't give up hope. It hasn't been on the market THAT long ...

You may also want to offer a lease purchase

Lynn,

All the bad things you have heard about the housing market... the condo market is worse.

There was already a surplus of condos and townhomes on the market before the current real estate woes. Your best bet may be to lease it out to someone who can't get a mortgage if your association permits it.