Dear Joseph, THAT ANSWER THAT THe REALTOR GAVE YOU IS A VERY TYPICAL WRONG ANSWER. Please find a Realtor who has been in the business for over 15 years and has many real estate DESIGNATIONS. You paid $144,000 for your unit less than a year ago, it was listed two yrs ago for $179,000. Your are lucky to Get $155,000 +/- $,5000 per comps. in a declining mrkt. Don't settle on limited services Real estate companies because you have to remember you pay for what you get. If you want full service their are some full service realtors willing to work with you like myself. Remember what you loose on your condo you will make up on it when you buy. 22P sold for $150K & 8 P is listed for $134,000.Market IS NOT going to turn around anytime quickly, so take your loss and find a condo that you will be extremely happy in or DON'T SELL and live with the present situation . I would do which ever is less depressing to live with. Lenders have tighten up so have the buyer market & 30 yr rates have hit 6.75 % in the last few days. Your situation is no different than anyone who has bought their property in the last few years.
Don Yosef Marcus GRI,ABR&CERTIFIED Consumer Real Estate Consultant
CENTURY 21 MB
21 yrs serving Chicago