Friday, June 04, 2010

Condo Value…

Please see my net worth chart to the right. I decided to revalue my condo at cost. There are two 3bd/2ba units on the market in my complex for $139,900.

I purchased my condo for $130,000 in 2003. It appraised for $165,000 in November 2008 but due to market conditions as well as a limited market for conventional financing since my complex is not FHA approved, I suspected the value would decline.

I think the conservative value is best. At least I am not underwater after the refinance.
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2 comments:

Zendebtor said...

I get the impression you are making progress. I checked out your blog a bit back after starting one and looking at other people's blogs for inspiration. Yours is a good one ! Keep going, if you start breaking even each month then this will be major progress. You may be in debt but you got an education and somewhere to live out of it so not wasted money at least.
Zendebtor (delirous after work)

9:52 PM
lizzie said...

What a great blog. I just visited today and it's such a neat read...My fiance and I are planning a Chicago wedding, but we recently moved to Texas, where land-value is ridiculously low and affordable...add that to 10% less taxes than Illinois, and we are having a much easier time.

I just wanted to say it's this kind of stuff I feel like no one talks frankly about and thank you for doing it! (Have you checked out daily worth? http://www.dailyworth.com/) It's pretty cool. (not mine, no self-promotion)

thanks again for your blog, it's great.

12:39 PM

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