Thursday, February 16, 2012
There is a name for people who can't sell their property and don't want to lose money on it; they call them "reluctant landlords."
Hi, nice to meet ya.
It's hard to believe that it's already time to try our luck again in the real estate market. Our little old condo is back up for sale.
It seems like just yesterday that we were finally able to breathe a little easier when our friends became our tenants. But at the time, we agreed that it was best for all of us if we only signed an 8-month lease. Although it doesn't end until the end of April, we're trying to time it so that we maybe won't have to have a vacant property. You know, if we get lucky.
Which unfortunately hasn't been our case so far. Six+ months on the market last year, and we never got a single offer. But everyone's luck has to turn at some point, right? At least that's what we're hoping. Especially when you price the property as competitively as we have.
But the market is still slow, so we're trying to remain realistic. We are testing the waters over the next few weeks to see what happens. If nothing, we'll start to plan for an alternative. Our tenants sound like they could be willing to extend their lease by a month or two in order to give us some more time on the market. And, we always have the option of trying to find new tenants who will sign a new 1-year lease, too.
Uncertainty. I hate it.
Hopefully we will find that needle in a haystack this time. It only takes one person, after all. We've priced the property lower than we ever thought we would. We still have St. Joseph buried in the garden.
So now we wait. And hope. And pray.