Our freezer stopped working a few days ago; it stays cool but doesn't keep things frozen. Then the refrigerator started warming up and is just barely cool. We had a refrigerator repair person affiliated with Sears come over and he said the compressor is bad and needs to be replaced at a cost of about $500. He suggested we might as well buy a new refrigerator and that it is normal for a refrigerator to last only 7 years or less. I find it hard to believe that it is normal to expect only 7 years out of a major applicance. Do you have any suggestions on what our next step should be? Thanks.

If the unit seems to be cycling normally.

You may want to pull the covers from the evaporator coil and check them.

If they are heavily iced over, you have a defrost problem.
Also make sure the fan in the freezer is running.

If it is, reply back with a Model Number and I am sure someone here can walk you through the repair.