Anyone concerned about home depreciation?

[disneysteve]

Re: Anyone concerned about home depreciation?

And, lower home price means your home is assessed at less value and maybe your taxes won't go up as much or as often so there are some positive points.

That doesn't work around here. Our assessed value is less than we paid for the house 12 years ago. The assessment doesn't change but the tax rate does. So our taxes have more than doubled over the years.

[Ima saver]

Re: Anyone concerned about home depreciation?

I am not worried either. I would like to sell mine and build a new home, but I can wait. It is paid for and I could still get at least double what I have in it! It helps that my husband is a builder and can fix most anything around the house.

[JanH]

Re: Anyone concerned about home depreciation?

Our home depreciated over 10 percent of its value in the last year because of hurricane rita. if we finish the repairs and upgrades and had to move, we'd lose money on the house because we'd have paid out more than we sold it for. That's why we were glad to find a new job in this area at this time. Overall we are up about 10 percent above what we bought it for, but not enough in that 10 percent to cover the costs we have coming up. Hopefully, it will even out and we will gain enough without it being overinflated which is what probably had happened before the storm anyway.

[PRICEPLUS]

Re: Anyone concerned about home depreciation?

I am not too worried about depreciation. The home is worth quite a bit due to its location. The housing market may be soft now but I am quite sure things will get better!