I'll save my hardcore thinking until the agent and I meet again, but it looks like I'll have a few options to consider:
1. Stay put and give the market a bit more time to recover. It's not like I hate my house or can't afford it* or need to move for some reason.
2. Consider renting the condo out. I can't rent it for what I'm paying for my mortgage. And if I don't use a property management company and I act as the landlord myself, I'll have to deal with the hassles of owning without the benefits of actually living there. That said, I think I could get enough in rent that I'd still save money if I paid half my friend's mortgage and also paid the difference between the rent and my mortgage. And if I did go with a property management company, I'd avoid the hassle of being a landlord. But I'd save less money. Ugh. Complicated.
3. Sell at a loss. John and I contributed some money to the downpayment and my dad also helped us out. To be honest, I don't care if I lose my share. I really don't. I don't have that money in my hand right now, and if I don't get it back it will be a theoretical bummer that does not change my reality. I have not talked to my dad about his share. That's his money, and I'll need to talk to him to see where he stands on that, but selling at a loss is an option I'm willing to at least consider, especially given how long it will likely take to wait the market out.
If I decide to sell, the realtor was of the opinion that it would be a lot easier for everyone if we weren't living there while it was on the market. An astute commenter had remarked on my last post that I could consider moving in with my friend before the house sold . . . and option that had not crossed my mind. S_ivan (the friend in question who sometimes comments here): we'll talk once I know more from my agent.
So that's the short version. Longer post on shared living spaces is brewing.
Confidential for Idol Fans: Despite the fact that I usually don't start watching until Hollywood Week, I spent last night on the couch with a bag of Doritos and a glass of wine for the entire two-hour premiere. I envision more of the same for tonight. My favorite last night was Stevie. My least favorite was Bikini Girl. That whole thing made me ILL. The blind guy totally made me cry—his story is so moving—but ultimately I don't think he has the talent to go the distance.
*Unless I lose my job, which is a real possibility, although even then it might be doable.