Each month Zillow emails me to tell me how much my house is worth. I write about it each time so we can all live the dream. (All the articles here.)
Since the last time I wrote (how did I forget August?) in July, Zillow predicts my house lost another $24,000.
On the one hand, I think this might be too steep a drop. On the other, a second automatic appraisal database agrees. I just finished up a re-finance, and the appraisal came in at $538,000. I didn’t particularly care, since my first mortgage is an FHA loan under $424,000.
One of my direct neighbors has the exact same townhome for sale listed at $580,000. And another townhome currently listed at $539,000 sold late last year for $475,000. I think they may have a bit of a wait on their hands.