Peter

Well, it has been 2 months and I appreciate all of your responses. Most of all, Debbie and Keith. I think the only solution here is to suck it up and sell later. Dont anybody get me wrong.... I love my condo. It is awesome. There are other circumstances that make me want to move. Gas prices and time wasted in commuting to work, Environmental/ chemical hazards that I was not aware of when I bought, and throwing 100's of dollars a year away on a pointless HOA.

The mortgage payment is not an issue. It is very affordable. I have painted and made it "my own" I just dont see the type of appreciation I once thought was going to be there. So it seems pointless to "rent" this condo and deal with all of the BS... I should just sell it but I can't. BELIEVE ME.. . if there is one thing i have learned while looking and posting on trulia....when the time is right I will price this property correctly and get rid of it.

Debbie is right... .I will never make this mistake again. - Thu May 1 2008, 13:42

Thank you for your quick response... However I believe most are missing the point. While moving may not be dire at this point, It will be shortly. I am trying to avoid being in a position to HAVE to sell. I would like to sell on my terms and get into some place that is more manageable.

So, to clarify: I will tell you exactly what the problem is. I bought for 126000 and owe 124000. If i sell for 129000 I will have enough to pay off the loan, pay the realtor and maybe some closing costs. However, this development is still under construction so the builder is selling condos for anywhere from 117000 to 138000 and the unit next door is foreclosed and is up for 81000. So, what are my chances in a market like that. Not to good... thats what i think. Loosing money seems like my only option.

Now, in a situation like this some might say sit tight if you can and if you cant then sell and loose money. What is the alternative. I can not be the only one in this situation....

I would sell for 125000 and not make any money but then what about the fees... buyers agent, my agent, settlement statement, etc. all expenses that now have to be built in. What gives. we dont exactly have a sellers market here.

-Peter - Mon Feb 11 2008, 15:05