Answer: Properties that take a year to sell are priced at more than the buying public thinks they're worth today -- and that's the only opinion that counts. You'll just have to find a price level that will attract interest.
GETTING INTO REAL ESTATE
Dear Edith: I lost my job of 14 years due to layoffs. Do you think real estate is a profession to get into at this time? I have desired to enter this profession for years. I have read numerous books and attended a few seminars. I would really like to go to school to learn the business. -- e-mail
Answer: Like every other business, real estate brokerage is hurting these days. But for someone who is really interested, like you, it's certainly worth trying. You have nothing to lose. You can take the required courses, pass the state exam, get a license, and start working with an experienced broker, even if you're job-hunting or taking on part-time work at the same time.
TENANTS WON'T PAY
Ms. Lank: I own a house in another state. The tenants send two or three months of rent and then stop. I send them a letter, they pay for a month or two and stop again. I am tired of writing letters to them. What can I do? -- P.
Answer: You can hire a lawyer out there to evict them before they get so far behind they won't even try to catch up. Then check credit reports next time you select tenants.
Better yet, put the place on the market with a local agent out there. You sound pretty amateur to me. Even for someone with landlording skills, managing out-of-town property is difficult.