Janice,

We agree with renting the property for a while longer before putting it back on the market in December for the season.
Good luck,
The "Eckler Team"

Dear Home Seller in Estero

I too live in Estero, Florida. We are at a great advantage here as this is still and up and coming area. The questions that I have for you these: Where are your properties located? And would it be worth 10 minutes of your time to meet with me, so that I may see the properties, then we could pick the best plan of action from there? Please give me a call at 239-784-7922. The Luckiest Girl in The World! Aldee

Janice

Everyones circumstances are different.
Ask your friends and neighbors if they can recomend a Realtor they have personal experience wth (preferably not a friend or relative, as this could be tricky if you are not happy with their services!)
You might also want to consult your CPA as to whether you can hold on to both properties for another year with rents being adversely affected with the large inventory we currently hold.
Of course, the most important question is what equity do you have in your homes? A large number of sellers say they will lose money in comparison to what they could have got for their property a few years back, while in fact they do have equity in their property!
The advice to put both on the market was good.
You can contact me if you would like to have more info on the Southwest Florida Market. In fact, the Naples Daily News reported today that sales were up in Collier and that affects the whole area - including South Lee county.

Try to rent for another year and see how the market develop or look for an experience Realtor in your area he or she should be able to help you further.

As Joanna says, you haven't provided enough information for any of us to offer an informed opinion. The primary question I'd ask is: What's your financial situation? Can you reasonably afford to rent that unit for another year (or 2, or 3, or 4)? Eventually, all the short sales will be bought up and the market will come back. I don't know the Florida market, except by reputation, so I don't know whether that point will come a year from now, or 3 years from now, or longer. But don't depend on the market recovering sufficiently in a year or two.

You have to compare your cost of being a landlord (assuming you have a negative cash flow) that second unit, versus the immediate loss of selling...versus the likely lesser loss (or even profit) of selling at some point in the future. Can you handle the big loss from selling now? Can you handle the slow bleed of negative cash flow into the future? And--looking beyond just the numbers--would you feel more or less comfortable with one or the other?

Check with a Realtor to get solid numbers on the values of your properties, and the rental market. Then you might want to consult a financial planner to run some numbers for you.

Hope that helps.

You have answered your own question, so put both on the market and live in the one that doesn't sell. But why do you really need to sell? Before anything else, I think you need to sit down with a Realtor and have them review every aspect of your situation thoroughly, then make recommendations. Nobody on a message board can possibly answer your question with any degree of certainty since you haven't shared enough information for them to make an informed opinion (nor would you want to).

Real estate investment is a long term proposition. The current problems in the market will pass, and property values will recover. I'd hold on and continue to rent if a decline was cutting deeply into my ROI. Your own needs and objectives should dictate what you will do.