Property Value Falls

I received the little green postcard from the county that I get every year, telling me what the value of our property currently is. Last year our land was worth $104,100, this year it is worth $86,800. Last year the building was worth $150,500, this year it is worth $146,000. The net loss in value is $21,800.

There is only a slight chance that we are going to want to sell our house in the next few years (if DH gets a position that we need to move to Pittsburgh for) but I don't like to see this. It's not like they are ever going to lower our taxes. (hahahahahaha!) Our net worth takes a hit at the same time and it's just no fun to go backwards.

The good news is that that the house is still worth more than we paid for it ($190,000) in 2000. Unfortunately, we have refied and what not and so we owe more that $244,000. I know that if we actually sold that we would get more than the appraised value. But in my head and my net worth calulations, I only like to include the appraised value since it's pretty much a sure thing.