Although I agree that not all agents are created equal, it appears that we are not hearing the entire story. First of all, why did you hire an agent and let him/her work for 6 months to get your condo sold at a price which you knew was too high? You do realize that realtors work very hard and do not get paid unless a sale occurs, so it is also in your agent's best interest to get the home sold. Did he/she promote your condo via professional photos in MLS and social media channels? Did your agent communicate with you about the process? Did he/she suggest possible improvements to your condo and/or price changes along the way? If so and you ignored the agent's advice, listen now and reduce your price with your current agent. If not, find a new one after your contract is up but let your agent do his/her job this time before you miss all the snowbirds, if you haven't already.
First of all, how do you know the price your tenant is willing to pay is the highest price the market will bear? Our market in the Boston area is very hot so homes are selling above asking price very quickly when sellers use a realtor. Unfortunately, I'm not sure of the market in Palm Beach, FL, right now. My suggestion would be to contact a local realtor and have a market analysis of your property. You also need to check on the tenant's ability to get a mortgage since you really could be wasting your time. I would do so quickly or hire a realtor before you miss your market, however. Aren't the snowbirds leaving soon, giving you less possibilities for selling your home?
Nicole, you are right in my neighborhood! Don't look at the Zestimates. I find them to be way off. Contact me at firstname.lastname@example.org or at 781-608-1157, I'll do a little research, and give you an idea of your home's value.
Honestly, I stopped looking at the Zestimates because they are usually so far off. I also live near Tufts and the border of Somerville in the Hillside area. Your best bet for an actual estimate of value is to contact your local realtor and ask for a CMA (Comparative Market Analysis). A professional realtor will look at the recent sales in a specific area, not in the entire city. For example, our homes in the Hillside may be valued more than a home in Fulton Heights but less than a home in Lawrence Estates. Contact me at 781-608-1157 or via e-mail at email@example.com if you need some assistance. I'd be happy to assist with the CMA.
Yes, unfortunately, the answer to your question is "yes". It just so happens my home and real estate office are also in Medford, like you. This is an issue all realtors have to deal with and should know how to navigate around. There is now a "master list" of condo complexes which have been approved for FHA financing. The time and paperwork are time-intensive so many associations will not bother to apply. I would check the list on the HUD website before you go condo shopping again. I'm sure your time is valuable so you really don't want to waste it looking at properties that don't meet your criteria. There are other ways to finance but that's a longer conversation. If you need help, just contact me via phone [edited by moderator for contact information]. I'd be happy to help. Best of luck to you and thanks!