Comments on: Net Worth Update – June 2008 http://blog.canadian-dream-free-at-45.com/2008/06/30/net-worth-update-june-2008/ Wed, 08 Feb 2012 17:31:40 +0000 hourly 1 http://wordpress.org/?v=3.1 By: Canadian Dream: Free at 45 » Blog Archives » Net Worth Update - Aug 2008 http://blog.canadian-dream-free-at-45.com/2008/06/30/net-worth-update-june-2008/comment-page-1/#comment-8499 Canadian Dream: Free at 45 » Blog Archives » Net Worth Update - Aug 2008 Thu, 28 Aug 2008 12:26:56 +0000 http://blog.canadian-dream-free-at-45.com/?p=457#comment-8499 [...] now stands at $227,200 for the end of August 2008. That is an decrease of -$20,700 or 8.4% from my last update.  My year to date net worth increase now stands at [...] [...] now stands at $227,200 for the end of August 2008. That is an decrease of -$20,700 or 8.4% from my last update.  My year to date net worth increase now stands at [...]

]]> By: Michael James http://blog.canadian-dream-free-at-45.com/2008/06/30/net-worth-update-june-2008/comment-page-1/#comment-6087 Michael James Mon, 30 Jun 2008 21:02:46 +0000 http://blog.canadian-dream-free-at-45.com/?p=457#comment-6087 Thanks for the information. Any method of valuing a home has its flaws. It looks like you've got a reasonable method that doesn't take too much of your time or money. Thanks for the information. Any method of valuing a home has its flaws. It looks like you’ve got a reasonable method that doesn’t take too much of your time or money.

]]> By: Canadian Dream http://blog.canadian-dream-free-at-45.com/2008/06/30/net-worth-update-june-2008/comment-page-1/#comment-6086 Canadian Dream Mon, 30 Jun 2008 18:21:57 +0000 http://blog.canadian-dream-free-at-45.com/?p=457#comment-6086 Micheal, It is based on listing price minus 8%. So when there is a seller's market I've often undervalued my home, yet once it shifts over to a buyer's market I'm perhaps a little high. I've often been told in a buyer's market to undercut the list price by at least 10% to start the bidding process. So my 8% leaves me 5% for give on the price and 3% for closing/moving costs. Price data mostly comes from searches on MLS and a local site called SK Homes For Sale (a FSBO site). Between the two I search my neighbourhood and those areas that are a similar age and determine a likely listing price for my home. I look for size of the house, age, condition and any features differences between the listing and mine. I try to provide a fairly acturate price, but without paying to get hold of actual sales data I know I'll always have a margin of error. Housing pricing is really subjective anyways, so I'm not overly worried about it. MG, Overall the market here is just suffering a correction back down due to a large number of listings and people getting off the speculation band wagon (aka: house flippers). Tim Micheal,

It is based on listing price minus 8%. So when there is a seller’s market I’ve often undervalued my home, yet once it shifts over to a buyer’s market I’m perhaps a little high. I’ve often been told in a buyer’s market to undercut the list price by at least 10% to start the bidding process. So my 8% leaves me 5% for give on the price and 3% for closing/moving costs.

Price data mostly comes from searches on MLS and a local site called SK Homes For Sale (a FSBO site). Between the two I search my neighbourhood and those areas that are a similar age and determine a likely listing price for my home. I look for size of the house, age, condition and any features differences between the listing and mine.

I try to provide a fairly acturate price, but without paying to get hold of actual sales data I know I’ll always have a margin of error. Housing pricing is really subjective anyways, so I’m not overly worried about it.

MG,

Overall the market here is just suffering a correction back down due to a large number of listings and people getting off the speculation band wagon (aka: house flippers).

Tim

]]> By: moneygardener http://blog.canadian-dream-free-at-45.com/2008/06/30/net-worth-update-june-2008/comment-page-1/#comment-6085 moneygardener Mon, 30 Jun 2008 17:54:36 +0000 http://blog.canadian-dream-free-at-45.com/?p=457#comment-6085 I'm also curious about your house value and the condition of the market where you live. I’m also curious about your house value and the condition of the market where you live.

]]> By: Michael James http://blog.canadian-dream-free-at-45.com/2008/06/30/net-worth-update-june-2008/comment-page-1/#comment-6083 Michael James Mon, 30 Jun 2008 16:51:23 +0000 http://blog.canadian-dream-free-at-45.com/?p=457#comment-6083 Hunting through your old net worth updates I found that you base your house value on listings of similar houses in your area minus 8%. Is this based on listing prices or actual sale prices? Where do you go to get this information? Hunting through your old net worth updates I found that you base your house value on listings of similar houses in your area minus 8%. Is this based on listing prices or actual sale prices? Where do you go to get this information?

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