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Reply #3: It can vary a lot. The real value is not necessarily [View All]

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Home » Discuss » Archives » General Discussion: Presidential (Through Nov 2009) Donate to DU
Lucinda Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-10-07 02:31 AM
Response to Reply #2
3. It can vary a lot. The real value is not necessarily
an indicator of wealth though, even with that large jump in value so quickly.

We built our home (I designed, my fella built) and as a result we had instant equity, and with property values increasing in our area, we are now in a home that is worth more that we would ever be qualified to buy with our income. And we can't really touch the equity because it would strap us financially to re-fi.

On paper it sounds good...but it doesnt mean any actual benefit to us financially, until we sell.




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