In this economy all houses will continue to loose value until real wages start to rise again, that will be five to maybe twenty years away.
Can you keep the house for sale with a renter in it? You'll be better off cutting your losses and selling it soon rather than to continue to pour money into it for no return.
You didn't say how old the house is or it's condition. If it's a hundred year old house that hasn't been renovated in fourty years it may be worth more as a bare lot or farm land than as a rental property or an acreage. Don't go back to your old realtor, talk to some different ones. Also get an appraisal from a dedicated appraiser, not a realtor.
If you are renting it out you're probly best off with the property manager, it keeps you out of the constant little hastles. You're manager will make way more out of the deal than you will, but you'll have some small cash flow until you decide what to do.
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Today's Featured Article - Earthmaster Project Progress Just a little update on my Earthmaster......it's back from the dead! I pulled the head, and soaked the stuck valves with mystery oil overnight, re-installed the head, and bingo, the compression returned. But alas, my carb foiled me again, it would fire a second then flood out. After numerous dead ends for a replacement carb, I went to work fixing mine.I soldered new floats on the float arm, they came from an old motorcycle carb, replaced the packing on the throttle shaft with o-rings, cut new ga
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