Need to sell property asap
I have a home that I have tried to sell several times over the last 2 years with no results. The market is soft. I had it built in 11/2000 for $245K and have been asking $249K. My mortgage payment is killing me $2034 mo. I would like to down size to $150K property. Any sugestions on moving this home? The home is located in a gated addition on the golf course and backs to #11 fairway and green. 
It can be viewed at Page TitleOK BY OWNER You can reach me atdwilson100k@hotmail.com">dwilson100k@hotmail.com Thank you for your help.
Lease option the home for Above market price with 3-4k in non refundable option money. Give them a generous rent credit with a two year cash out.
It has always worked for me.
Good luck.
Sell the house at a lose, then write the lose off your taxes. It all works its way out in the wash. Next you have to paint, professionally clean the inside and out. By dropping the price say 240k, it should move PDQ. Good luck
Vern:
If the house is his personal residence, he cannot claim a "loss" deduction on his taxes when he sells for a loss.
However, I agree that selling for a loss is better than nothing if you have difficulty affording the mortgage.
As the other poster suggested, try a L/O. Alternatively, advertise the house on for "5% down, no credit needed and no qualifying." Then sell the house on a wrap around mortgage or a contract for deed (the latter is the safer method). You do run the risk of the lender calling the DOS clause, but it is rare the lender would find out since the buyer will be paying you and you paying the lender.
Charge an interest rate a little higher than your mortgage rate so you get paid for your trouble.
Also, structure the wrap around or C/D so that it balloons in 2-3 years. This will ensure the person refinances you out of the property thereby eliminating your risk on the loan.
Keep in mind that you will get alot of calls from people that have bad credit. However, your criteria should be to find out if they have a steady job and can afford the payment. Technically, then, it is not a "no qualifying" loan, but they don't have to qualify with a bank. This technique could mean that you could close in less than one week after you have found an interested person.
Good luck,
Taxjunkie