Help! Home for sale - update

The house of Karen and Jerod Williams in Huntington, Indiana has been on the market for nearly a year now and the couple is clearly pessimistic.

It's especially frustrating for them because they thought they had the three-bedroom, American foursquare sold a few months ago. Then, just last week, they learned that the buyer was backing out because of failure to find financing.

"The lender wound up refusing to make the loan" says Karen.

This was particularly frustrating because, while the deal was underway, the house went three months without being shown to other buyers.

The next step will be to take the house off the market, put in new cabinets and counters and relist it. That's another expense that the couple will not recoup in a higher selling price. "I would like to raise the price," says Karen, "but that would not go over around here.

Market conditions simply don't seem to be easing up at all.

"I'm afraid we're going to sit on it for another six months," says Karen.