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Author Topic: Who would have thought losing 7 grand was a good thing [Locked]
Tipztoe  4 stars
Posts: 1,775
Registered: 2004-3-1 17:53:43
 Date Posted: 1/1/00 12:00am Subject: Who would have thought losing 7 grand was a good thing
Just had an appraisal on my house after about 2 years and a housing market that we all know tanked. Only lost 7 grand from the initial appraisal. I feel like I lucked out.
Maleraka  2 stars
Title: Postponing the inevitable
Posts: 481
Registered: 2002-9-24 18:26:05
 Date Posted: 1/1/00 12:00am Subject: Who would have thought losing 7 grand was a good thing
appraised value does not always equal market value

 

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Reapist  4 stars
Title: Official ACF HIOFI Poster
Posts: 4,367
Registered: 2001-12-20 03:56:16
 Date Posted: 1/1/00 12:00am Subject: Who would have thought losing 7 grand was a good thing
If you lost 7k at the casino it would not be a good thing.

 

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Tipztoe  4 stars
Posts: 1,775
Registered: 2004-3-1 17:53:43
 Date Posted: 1/1/00 12:00am Subject: Who would have thought losing 7 grand was a good thing
Maleraka posted:
appraised value does not always equal market value



I know, plus you never really gain/lose money until you get out of the market. But they partly base it off what is selling in the neighborhood on comp properties.


I know my old neighbor who bought their house for 600k and change is looking at like 150k loss.
Fallen_daemon  3 stars
Posts: 761
Registered: 2001-7-28 16:34:29
 Date Posted: 1/1/00 12:00am Subject: Who would have thought losing 7 grand was a good thing
http://www.zillow.com/
type in your address and see how much the site thinks your house is worth. who needs appraisers .

 

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Tipztoe  4 stars
Posts: 1,775
Registered: 2004-3-1 17:53:43
 Date Posted: 1/1/00 12:00am Subject: Who would have thought losing 7 grand was a good thing
Fallen_daemon posted:
http://www.zillow.com/
type in your address and see how much the site thinks your house is worth. who needs appraisers .



Zillow isn't very accurate.. plus the bank doesn't care what they think when refinancing
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