I bought my first house in August in a rural town in MN for just over 100k. The town is small about 3 thousand people.
The house had been on the market for like 6 mos, so we paid even lower than the twice cut asking price. The bank apparisal was for about 20k more than we paid, but the tax assesment was for 10 k less then we paid, but the tax assessor dosen't go inside the house, just assess the house sq. footage and land.
We've painted and put in new hardwood floors in two rooms since we moved. And we have plans to do more before we move out in 5-10 years.
But I keep hearing all this stuff about how homes are going down in value. One report I heard today said homes have depreciated 5% since last Nov. Arggg. Was I stupid to buy a house? Do think my house has deprecated? If so by how much?
2007-11-29
10:21:46
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6 answers
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asked by
Uptown
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Renting & Real Estate