New to Site - Looking for direction

[Michael Imperiale]

I am new to the site and have a question.  I have a property that i purchased in 2005 in an area that took a huge hit during the real estate "bubble".  At the time I was not comfortable walking away so I held onto it even though the value went to almost 1/2 of what I paid for it.  

Fast forward - I still own the property and have had it rented for the past ~4 years.  The value of the house has finally climbed back to what i paid and I am looking to sell.  

The home has been on the market for approximately 45 days and there have been no offers and few showings.  

The renters vacated the property when I put it on the market so I am paying the mortgage without and income from the property.  I am thinking that if it does not sell I should put it back on the rental market and wait for a better time.  

I was offered a "contract for deed" from a random person that did some work on the house.  It sounds like a great idea with the way it was presented.  But if it was so good for me to let him do this I am thinking it could be just as good for me to hold onto it.

My question is as a new member and a very little experience with renting it out (the people that rented it last were friends).  What direction do I go?  Do I lower the price to sell do I try to rent it and wait?  How do I weigh these to determine my best option.

Thanks for reading!