tag:blogger.com,1999:blog-6337895450730818700.post6950819328827683199..comments2023-08-29T08:48:51.557-06:00Comments on Jessie's Money & Our Growing Families Too: March NetworthJessiehttp://www.blogger.com/profile/11259285806446208884noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-6337895450730818700.post-38566567469018045722013-03-02T11:20:43.120-07:002013-03-02T11:20:43.120-07:00Thank you both for asking - the mortgage question ...Thank you both for asking - the mortgage question came up on my let networth post, so i'll be sure to include more details in the monthly post going forward.<br /><br />It would have been more accurate to say that we have paid down 3% of our mortgage - which can been seen from my tracker bars on the right hand side of the blog.<br /><br />The value, as you may know, is always an arbirtrary number - because the home is worth only what a buyer will pay for it. We're not currently in the market, so it's difficult to know exactly what's it's worth. I used the value from our 2012 Tax assessment. It's relatively common knowledge that tax assessments are not used when determining a sale price - but market value is.<br /><br />Without paying a real estate agent, it really didn't seem worth it to try to come up with another number for value.<br /><br />Also, when we bought the home, it was brand new, so we had to pay GST - people don't pay GST on second hand homes, so that increased the mortgage a bit.<br /><br />I hope that makes sense - I imagine that I'll have to do some work on valuing once we finish our garage, fence, and deck - as that will incrrease the value...but how much? Tough to say.<br /><br />I hope that answers the question about the mortgage.<br /><br />The vehicle is a similar answer. We bought the vehicle new, off the lot - its fairly common knowledge that off the lot typically lose a lot of value as soon as you drive it off. I used a black book value website to come up with a value of $15,000. I actually saw pricing of vehicles ranging up to $22 or more for an Escape as old as ours. I choose to use a more average valuation instead of over inflating it's value - because really...who knows what people would pay for it. We're not ever going to sell it, but I count it - in case we were ever in such dire straights that it made more sense to get rid of it.<br /><br /><br />So....those were two really long answers. But I hope that answered the questions.<br /><br />Please let me know if you have any more.aJessiehttps://www.blogger.com/profile/11259285806446208884noreply@blogger.comtag:blogger.com,1999:blog-6337895450730818700.post-81947652397982438782013-03-02T09:16:12.521-07:002013-03-02T09:16:12.521-07:00I had the same questions as ND Chic- I thought I w...I had the same questions as ND Chic- I thought I was reading it wrongly...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6337895450730818700.post-52010808678568187712013-03-01T17:51:07.164-07:002013-03-01T17:51:07.164-07:00Jessie, how do you own 3% of your house but the am...Jessie, how do you own 3% of your house but the amount you owe is $10,000 more than the value? Also, are you really upside down on the Escape by $5000? Not trying to point it out but I don't understand it.Nd.chichttps://www.blogger.com/profile/09918828872616125907noreply@blogger.com