Just got the town tax assessment. My home value has plummeted almost $24k below what I paid 2 years ago! I currently have NO equity. Wait - negative equity! At least my property tax will be lower, lemonade out of lemons, right?
Trying to breathe. It was valued at $22k more than what we purchased it for back in 2007. So technically, that is a $46k drop.
And this, people, is why we are on a 5 year plan. Wasn't going to sell the place anytime soon.
3 comments:
At least your town reassesed recently. Ours assesed back in 2005 and that price still stands today for our taxes.
Have I mentioned we are refi-ing? I never get to move. but my interest rate is now like 4.5%... and it saves me several hundred dollars a month. oh, well.
I am in exactly the same boat. We bought a year ago and are 20,000 below what we paid. Sigh.
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