Our house depreciated 3.8% last year
The house appraised at $250,000 instead of $270,000.
Last year, it appraised at $260,000, so it depreciated $10,000 (4%) in one year.
Personally, I think a house should cost no more than 4 times a persons annual income.
The results are good though.
We will get some cash out.
The housepayment will drop $150 a month.
The mortgage will be payed out of our rental income instead of my savings.
Its all well and good.
Saturday, April 28, 2007 1:23:34 PM, From: jim, To: Becky