Sell house for a loss in Michigan?

Nov 05, 2009 in General

Sell house for a loss in Michigan?

My husband has been offered a promotion in CA. We live in Michigan (Ann Arbor). We think we will be able to find a buyer for our house if we price it very competitively, but the real estate agent thinks that will involve us bringing 25 to 40 k to closing because we don't have much equity in the house yet.

Wondering if anyone else is in the same boat or has advice? Does it make any sense to sell for this type of a loss? We make a good income (currently 110k combined, he would be making between 20 to 40 k more in CA), but aren't sure what we should do. Do you think the market in MI will rebound in a few years and we should rent it out? Or just cut our losses and leave?