My home is not selling. I don't have to move now. I need to decide: wait or sell for bargain basement price?

I bought home 4.5 years ago. I put a new roof on it, painted interior and exterior and made a few minor repairs. It is 77 years old. Its in decent shape and is cute and has some features (bigger yard, better material for exterior walls, slightly bigger space interior) that make it a hair above value many in area. I am single and coping with yard, maintenence is just a hassle/hits budget for me so I sell. I don't have to sell now.
Since I put home on market the neighborhood...appealing one still somewhat transitional--prices have sunk ..this is not a market where prices were terribly overinflated...but homes that would have gone for 230 or 250 a years ago are selling for at least 20 to 40 K or more less ..a steal. I could lower my price still more...but it would take a lot of my investment. I risk with a older home need for expensive repairs etc. But market could normalize by next spring.

Should I wait and risk repair need or sell? How do I decide break even pt on costs w/mortgage?

With mortgage pymt, renting out would not work as I'd have to charge above going rate for home in this area.

Brick house (painted) so siding is not an issue and it was tuck pointed. Home warrenty added to deal would handle worries a buyer would have with appliances, etc.

I paid about 18K down, about 8-900/mo. not counting insurance and taxes mortagage, have made about 25K in repairs/paint/roof.

why not rent?

Regarding renting, keep in mind that as landlord you would still be responsible for repairs.

You already put a new roof on it, so that's good. The other major things to go might be plumbing and/or exterior siding. However, you can visually inspect the siding, and since you painted the exterior recently, apparently it's in good shape.

The condition of the plumbing is harder to determine since the pipes are behind walls and under floors. However, because of that very reason, a potential buyer may want to offer less just in case the plumbing goes bad soon after they move in. You just never know about plumbing.

Furnace and/or air conditioner unit may also go bad. You could get them professionally inspected, and ask the inspector about estimated remaining operating life. Probably a very inexpensive service call ($100-$120.)

The home market is simply saturated with inventory for sale, and buyers are shy. If I were you, I would give it a year. If the prices are still the same as now, then you could decide to go ahead and sell it.

the market is not that great right now so I would wait a few and then sell, you dont want to get less than what the home is worth.. ask your realtor there thoughts if they are good they will have good advice for you.. found some great seller tips maybe they will help
http://www.yourdeserthouse.com/homeselli...

Unfortunately, no one can say what will happen in the Spring. The real estate market is cyclical by nature. Right now we are definitely in a downtrend and who knows how long it will take before it turns around and moves up again. So you have to decide if you are willing to live their up to 5 more years if need be. If you wait until spring you may lose even more money on your home. Try uping the commission to the selling agent (it's usually cheaper then dropping the sales price). This will motivate agents to sell your home because they can make more.

1st of all.. i cant find where u live.. wat's the state and the country?? mayb i missed it while i was reading ur question...
.. i think u shud try this real estate web portal.. its very easy 2 use and has various features that can help u get the right direction 4 ur house...
http://www.terabitz.com

hope this helps u in selling ur place.. take care

Have you thought about a lease option? A hair above value is a personal opinion not what the market is dictating. If you are in no hurry than you might want to think about the lease option. There is no break even on costs with mortgage as if you have a variable rate, the market could either take off or falter,

Depending on what you paid for it, and considering what the market is dictating you might want to sell now. If you wait, the repair issues will eventually come up and you may not be prepared for it.