The facts are that you are not alone. Many who people bought and built homes are now hold assests that are valued less that their original purchase price.
The way our brokerage has been assisting customers in this situation who have a financial strain or hardship placed on them is through listing the home For Sale and negotiating with their lender to perform a Short Sale on the property.
Take a look at some of the articles I've written provide a good explanation about how our brokerage has assisted people like yourself, what a short sale is and how they work.
What is a Short Sale and How does it work?
Short Sale Pre Foreclosure Advice for REALTORS Â®
Short Sale Pre Forecloure Buyer Preparation - Are You Ready to Purchase a Short Sale?
Short Sale Scams - Seller Beware - USE CAUTION WHEN PERFORMING A SHORT SALE ON YOUR PROPERTY
This information should provide you a good start. If you have additional questions please contact me.
In a stable Real Estate Market, average home appreciates between 3-5% a year. Therefore, if you wait for the market to "turn around" you will have several more years of losses. If you can afford to sell now--DO SO! Also, put your property is tip top shape since there are so many for buyers to chose from they are picky and do not want to make repairs or repaint.
If you have ANY equity left in your property, you will be better off selling today and putting your money in a CD than trying to manage a negative cash flow until "things get better"
Judy Ramage, ReMax Realty Team, Cape Coral, FLorida
Desperate times require desperate measures......Thinking outside of the box, one might consider as a seller offering to hold a second note on the sale price might benefit the buyer and at the same time hold your sale price a little higher.
The "Eckler Team"
All of the posts are great anwsers. The Cape has picked up, we recently had an article in the News Press about it. Lets hope it continues, and the long haul is not so long. If you have problems with yearly tenants or lease options, keep in mind the great vacation rental options.