Posted by Bill S. (Ohio) on January 23, 2002 at 05:34:03:
Ask yourself why the property values are declining. For each reason, there is a plan of action. For example, if the local economy is lousy because businesses are leaving and no one is buying and you have a flooded market----maybe you should just bite the bullet. Ditto is the area is turning into a war zone and that’s why no one wants to live there.
If it’s just the national recession slowing things down, just hang in there and wait. As long as you can cover the monthly holding costs you can wait out any recession.
Does this help?