Thursday, June 16, 2011

Reality Check........Not sure what to do? Would LOVE any insight!

Well,,,,,I know I've got friends near and FAR that read my blog,,,even though many of you don't always POST....I see you in my "Feed," my Blog stats and I have a REALLY big FAVOR to ask.......No, this isn't about Crafts or Junk finds.....It's about my future,,,,,,,and I'd love ANY insight or help.

Okay, so? I got a current "Property Assessment" from the County. This has scared the daylights out of me, honestly. My two LITTLE homes,,,USED to be worth  about $500k........then they dropped to about $330 with the Economy, and NOW,,,I get an assessment for $243K???? FOR two Houses????? Frankly, I'm scared. These two little houses are completely paid for. And yes,,,,,I am blessed with THAT. But the Taxes and Utilities keep growing and the Value keeps shrinking!

What do I do?.......Accckkk! Try and find a full time Job once again? Sell every piece I own to keep both houses and  continue to pay the taxes and keep fixing TWO OLD homes that continue to depreciate?

I don't want to leave my Home. And, in my thoughts,,, Worst scenario is- I'd move into my little Mother in law rental in back and rent out the "Front" house where I am currently living. . These are indeed scarey times. And,,,,,it angers me that I do NOT have any Debt......No Mortgage, no Credit Cards, no "Nothing!" So,,,,,,,where truly IS the line in the sand for people who have bought Cars, Homes, things that they cannot afford ON CREDIT and the rest of us suffer???

I'd love YOUR Take/insight event if it isn't what I want(ed) to hear!

PS......Yep,,,,,I'm doin' this all alone,,,,,,,No partner, and the kids are gone......So, I need all the advice I can get! If YOU don't know,,,,,,maybe you know someone that Does! I'd appreciate any insight!


  1. Property values will stabilize again in the next few years - if you love your home I'd sit tight and wait it out.
    Defer as much maintenance as you can - even though, speaking from personal experience, I know how much an old house needs constant upkeep.
    On the positive side, the decreased assessment on your house means that your property tax will be reduced as well.
    Things will get better.

  2. Its crazy everywhere!! Hold tight, Things will get better, Hold on to your property and maybe just rent out the smaller home or maybe you can take in a renter in your home. An extra 300 or 400 a month might help. even if you lose some privacy. theres lots of nice people out there.
    Now any ideas how I can get rid of all these DR bills? LOL
    hugs Lynn

  3. I agree, You may have to get a job for the short term to pay these assessments off but things will get better. No need to panic. I think temporary solutions will suffice. Maybe it will be a fun adventure!

  4. Hi Shell, These are scary times, I feel so bad for the people like us who did things right and are now suffering. It breaks my heart. We were taught that a home was a great investment, but now I am not so sure. If you try and sell, it may take forever, so I would say hold tight if you can. I pray that things get better. Hugs, Terri

  5. Hi shelly,
    I just sold my new home after two and a half years on the market 50 grand less than appraisal just to move for hubbys job. I was lucky not to have any debt and not to have to bring any money to closing.
    my advice is to consult an agent and see what they say.. renting is ok as long as you have an agency that does credit checks and make sure you get a great deposit. renting is scary but at least the house is paid for. but you may have to get repairs done just to rent it... make sure you do some seriuos research before selling or renting...
    hope you have some good luck come your way...
    assessments are a rough estimate and i always say if you are still gonna get what you paid in this market your doing well. making a profit is almost impossible in this market unless you buy a house at auction....

  6. I know exactly what you are going through. Our house went from 489,000.00 to 284,000.00 in one year and we are just sick about it. It's on the market for 249,900.00 and we have had only TWO showings since October of last year. Things are just bad everywhere and it's totally depressing. If the value of our homes goes down every year, why do our taxes keep going up? *scratching my head* I just don't understand it. We have cut back every way we can, cutting off our cell phones, being on a budget for groceries, cutting back treats for the fur babies, just doesn't seem to help. Ughhhhhh! When our contract is up in August, we are pulling our house off the market and staying here another year until things get better.

  7. Add your taxes and insurance and an approximate cost of maintenance and divide by twelve. Is it less that you'd pay if you even were able to sell and rent somewhere else? Probably! In the end, unless the neighborhood gets very bad, it's always better to own land - and even better if you have a house on it.


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