I made another payment towards the principal balance of our mortgage today and since it's been about a month since I last checked Zillow, I decided to take a look thinking maybe we recovered some of the value in our house. Well not only did it not recover, it went down even more! It's now only worth $190,000! So frustrating. At this rate I'll actually probably achieve goal #2 (paying all the second mortgage) before goal #1 (getting to break even). I know I should treat this like money in my retirement accounts - not worry about short term losses. But I still am a little nervous. I thought the economy was supposed to be getting better.
Unless you're planning to sell the short term value going down is beneficial because you pay less taxes.
ReplyDeleteSadly I think our tax assessment is saying the value is $230,000 or so, which I know is way off. Do you know if you can argue that with our county?
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