The Results are In...
...and it's not good.
Well, thanks to WAY too many foreclosures around here, where buyers were able to get homes comparable to ours at minimal prices, our house was only appraised at $200K. (That's down from $245K only 2 1/2 years ago! WOW!)
This is going to be a problem in November. Unless home values start going up again, or interest rates stay REALLY low (which doesn't look like it's going to happen.), or I go back to work full time where I know that the salary is consistent. We're not going to be able to afford our mortgage payment. (I'd LOVE to work my Stamping Business so that my income was more consistent, but when most people's disposable income is paying for a gallon of gas these days, it's hard to convince people that card stock, rubber stamps, and ink are a necessity!)
We still have a few months to hope that things turn around and/or figure out what we're going to do, but it's not all that hopeful right now. Maybe it's time to start thinking about moving West... where we can afford it! :(
Guess it's a good thing that we tried out those MRE's we might be eating them more often! :) (hehe)
Well, thanks to WAY too many foreclosures around here, where buyers were able to get homes comparable to ours at minimal prices, our house was only appraised at $200K. (That's down from $245K only 2 1/2 years ago! WOW!)
This is going to be a problem in November. Unless home values start going up again, or interest rates stay REALLY low (which doesn't look like it's going to happen.), or I go back to work full time where I know that the salary is consistent. We're not going to be able to afford our mortgage payment. (I'd LOVE to work my Stamping Business so that my income was more consistent, but when most people's disposable income is paying for a gallon of gas these days, it's hard to convince people that card stock, rubber stamps, and ink are a necessity!)
We still have a few months to hope that things turn around and/or figure out what we're going to do, but it's not all that hopeful right now. Maybe it's time to start thinking about moving West... where we can afford it! :(
Guess it's a good thing that we tried out those MRE's we might be eating them more often! :) (hehe)
Labels: Random Musings
posted by Marni @ 3:21 PM
2 Comments:
At June 17, 2008 7:15 PM ,
Rachael said...
Oh Marn,
I'm so sorry that it didn't come in where you needed it to be. Hopefully something will change between now and November. You are so talented with all you do, not to mention KNOWLEDGEABLE in so many areas, I'll bet you can rustle something up that would still allow you to be home with the kids.
Don't you DARE to start talking about moving West, you're giving me a heart attack!
At June 17, 2008 7:41 PM ,
Marni said...
No plans to move right now. :) Just doesn't feel right to leave RI - THAT's when you KNOW you're a true Rhode Islander! hehe
We're still hoping things will work out somehow! Darn Real Estate Market!!
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