How can I do with my condo in 100 Arbor Lakes cir. Sanford , Fl
The properties in this comunity dropped more than 50% in value, in auctions one property was sell in $77,000.
So i can't sell , I can't rent because the renters make offers under $900.00, I don't see any improvent in the market in this area in 5 years or more. The developper is still selling properties and lease ,dropped the prices ,make imposible to the condo owners to do something.
Sometimes you have to weigh out the best option for your situation. What you describe is happening in many subdivisions There are condos listed from $157,000 to $206,000 for 2 bedrooms. If you can't sell to meet the cost of mortgage due and costs, then renting for $900 may be the best option until the market situation changes as some is better than none. If not, then you may have to sell it as a short sale and list it lower than your competition for a quicker sale.
I believe in marketing rentals with the same manner and expertise as sales including Virtual Tours and have excellent results.
Write your own ads for local paper. Give to a reputable Property Management group, so they can screen and qualify the tennant.
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