99 Steering/tie rod issues

I noticed an intermittent knock thru the floorboards on wide left turns. Mechanic says steering is loose and has "play" and recommends replacing steering rack and and outer tie rod. I dont notice the steering being any worse than previously...actually seems better since recent replacement of tires and front half axles. Is this a serious problem tht must be fixed asap? Have others had issues with this? Car is regular 2.5 L model and up til now has been great...has 70k on it. However, the recent repairs has me wondering if its time to sell it and move on...not attractive as I just replaced the wifes Camry for $30k. BUT, maybe better to sell now while it has some value?

Thoughts?