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Net Worth Update

September 1st, 2009 at 02:31 pm

It was a nice surprise, but our net worth actually went up in August. Imagine that!

It went up from $219k to $219.5k. Even though we had over 2k in car repairs - paid in cash.

Year-to-date we are up $24.5k. Which only puts me $500 from my annual goal. (Goal to increase our net worth by $25k-$30k, at the least).

It doesn't mean much, we are still very at the whim of the market. The market is what saved our bacon is a spendy month.

7 Responses to “Net Worth Update”

  1. Broken Arrow Says:

    Nice! Here's hoping to the markets holding up!

  2. monkeymama Says:

    The susprise this year, so far, is that home values have remained steady. I really thought our net worth would take a hit on the house side in 2009.

  3. Broken Arrow Says:

    I wonder if housing has finally bottomed out? What do you think?

  4. monkeymama Says:

    Nationally? I don't know.

    Locally - no. For the long run I expect things to level out about this level. Area is desirable and low prices will bring in more people.

    All that being said, the amount of homes that are in the foreclosure process is unreal where I live. Home prices are artifically high as lenders delay foreclosure process. I don't know if they just can't keep up, or if the lenders are purposefully creating more demand by keeping homes off the market (& limiting supply). Maybe a little bit of both. The leveling off of prices in my neighborhood is pretty artificial, in my opinion. I know quite a few people who walked away from their homes last year, whose lenders haven't started the foreclosure process yet.

    On the flip side, Sacramento is back to being the low cost haven that attracted people from all over the state and is what created much of the bubble in the first place. (Other areas of the state have not been affected and are still sky high as always). So, there is hope. But I can't make too much judgement until the forclosures flood the market. I am a little worried about the short term.

    Not sure if my opinion means much mationally - we have one of the worst hit housing markets. Even with my "long run" feelings, I am surprised how fast houses are getting snatched up at the $300k level. So, maybe it is the bottom. Across the country, there seems to be plenty of eager buyers!

  5. Broken Arrow Says:

    Hmm, ok thanks! I'm pondering about whether to buy REITs, so any information is useful, especially coming from people who are erm, kind of obsessed about houses. You and my mother would get along great. Big Grin

  6. monkeymama Says:

    Don't buy any REITS that contain Sacramento housing - that is for sure!!!!!! (Maybe stay away from Vegas too?) All I really know about is my crazy corner of the universe. & it is crazy here.

    Obsessed? LOL. Not really. Interested, not obsessed. If I lived somewhere "normal" and average I probably wouldn't be very interested in housing, AT ALL.

  7. Broken Arrow Says:

    Hehe, Baselle said the same thing, except with REITs in general. But there's no harm in just loooooking right. Yep, just loooooooking....

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