Property tax appraisals just came out. County knocked me down 10%
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Date: April 5th, 2025 3:03 PM
Author: ........,,,,,,......,.,.,.,,,,,,,,,,
How did you manage to LOSE money selling a house at a time when prices were up 40%, and then buy a new h ouse that immediately dipped 10% in price?
(http://www.autoadmit.com/thread.php?thread_id=5705698&forum_id=2#48818674) |
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Date: April 5th, 2025 4:15 PM Author: disco fries (his own flesh as well as all space was still a cage)
Just to be clear, the county appraised me on 01/01/2025 at 90% of the appraisal of 01/01/2024. So this year's appraisal is 10% less.
Last year's appraisal was about 8% less than what we paid for the house in June. So, in less than 2 years, the house has fallen like 16-17% in value. I've spent just under 3% of purchase price on home maintenance and repair shit since we moved, so total loss is about 20%.
To get the house ready for sale, I'm guessing we'd spend like $20k easily and then there would be closing costs of about $45,000. So if we had to sell and walk away today, we would do so with absolutely nothing to show for 10+ years of homeownership and countless years of paying a premium to own instead of rent the equivalent.
It's the American dream, kid.
(http://www.autoadmit.com/thread.php?thread_id=5705698&forum_id=2#48818856) |
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