I got a notice from the county auditor this morning. My house is officially worth $5,000 less than I paid for it 2 and a half years ago. I guess, in a way, this is good, because this value means less I'll have to pay in property taxes.
But it still hurts a bit, especially considering we've put almost $25,000 in work into the house in that time. (All cash, thank you.)
A new roof, A geothermal heating and cooling system, new Marmoleum kitchen floor, new Energy Star windows. I guess I can't complain too much. Two of those projects have saved me a ton on my energy bills already.
My house is officially worth less...
August 27th, 2008 at 03:39 pm
August 27th, 2008 at 03:49 pm 1219852179
I wished we did not get an appraisal on it because I almost rather not know but we needed to know to make determination if we wanted to spend any costs to renovate on the house or not. We decided to put the money saved for the renovation to the principle of the mortgage instead. Our interest is 5.5% so it’s a good time to tackle the principle.
On the bright side, we do live in a desired climate so I do believe that the housing market will get better again someday, just not in the near future.
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