I finally got an offer on my old house. It's been up for sale about 9 months now. I realize the housing market sucks right now. We had already dropped the asking price almost 8%. The offer is almost 30% less than the already dropped price. We are now asking what we paid for the house 12 years ago plus we've easily put $15k in improvements.
I dont think I'll even entertain a counteroffer.
And when you take inflation into account, an offer of the same number of dollars you paid 12 years ago is still LESS than you paid for it in constant dollars.
I own some pieces of property free and clear, though all but one is commercial.
I'm gonna just rent them out and not consider selling any of them unless the right offer comes along.
I infer by you saying "old house", that it's sitting empty.
You might want to consider renting to the right tenant that won't trash your place. (I know, hard to find)
That way you'll at least have money coming in to cover taxes, insurance, etc. and stop the financial loss of it sitting empty.