Property Value/Appraisals RANT

[Pops15]

I don't know what the unemployment rate is for your area,but ours was at 9.3% jan 2011. Our new Governor said when he was elected that he wouldn,t accept a salary until the state got back to 5.2% employment. I don't know where we are at this time ,but the gov. still doesn't take a salary so, It's not at 5.2%. Gas prices here as of today reg. unleaded 319 per gal. My business is not even close to what was & may never be,but,I'll be just fine

Unemployment in this county was 10.3 in Oct 2012. That's the lowest it's been since May '09. Keep in mind the official figures don't count those who's unemployment benefits have run out or college grads that haven't found a job. The official unemployment numbers topped out at 15.9% in Jan '10. The real unemployment was estimated to have topped out around 23%!!!! Gas prices were down to $3.259 last I noticed. The county to the south just raised property taxes 27%. IL raised the state income tax 66% a couple years ago. Illinois sucks.

 

[MossflowerWoods]

You have too much on your plate. Plain and simple.

Have you ever read Dave Ramsey?

Yes I do. It is a recurring theme... Somehow (often with goodadvice from others) I always muddle through.

I've been told I am a Human Doing, not a Human Being... In the end, All of this stuff has to be done in some fashion. It is what God put me here to do, and I will find a way to accomplish my tasks.

I am familiar with Dave Ramsey... While I may not follow to the letter, I am not that far off regardless of opinions here on TBN...

David

 

[MossflowerWoods]

Doesn't really look like it from where I'm standing. Looks more like you make bad decisions and then stand back and throw money at them.
Sorry..... You're obviously a very good person, but that's the truth, or the way I see it.
It also looks to me that you have a lot to be thankful for.... a ton of things, starting with your health.

I'd say you calm down and make a list of what is really necessary and important and I'm not just talking about stuff either. Understand that it's up to you to decide this and not your wife or your kids. You know what best for your family, and you know what has to be done, and some of it is going to hurt a little. When that happens, just remind yourself and your family of exactly what you have and how lucky you are to have it.

It's going to be a long term project to get to where you think you need to be. Commit to that and stick with it. Worry about things you can control.
Things are not as bad as it seems, and if your wife is not willing to stick it out with you, well then, so be it. That's not what she agreed to when she "I do". You can't really control that now can you?
That's my :2cents: I really hope it didn't pi$$ you off David. I'm pretty sure you are the type of person that will come out the other side wondering what you were so upset about.

You cannot see the whole picture from where you are standing...

I've not had a credit card balance in decades, I pay them all off every month.

I just went 11 months unemployed followed by now just over 2 years of lower than normal income all while carrying 3 mortgages, and I did not touch my retirement accounts, nor my stock account that has been underwater for over 10 years...

Could I do that again? NO, I need to rebuild all my reserves.

We rarely go out to eat, and never extravagent. I have one car payment, at 0%, and I have one Tractor Payment. I own all four Harleys outright, as well as my F-150. We have no cable, we have no health clubs, etc. I pay for my kids music lessons, tithe at Church, and feed all my animals. There is no BS in my budget. No Starbucks.

Debt is a TOOL, if you do not manage it and use it correctly it makes you into a FOOL.

I agonize over some of these decisions, and I ask those ahead of me on this path for advice because I have no Father to ask, I am the oldest and most successful in my family (like ever) and not even my close friends truly understand what I do and am doing...

Yes, from where you are sitting I amy NOT look like a fiscal conservative, but I am VERY good at Stewarding over the resources God has bless me with, and there is much more to the pictue than you can see.

And NO. I am not pi$$ed off. Yes, I am a big boy and I will try not to ask questions I'm not willing to take a beating for. I too suspect this too shall pass and I will feel all the worry was baseless. BUt right now, this is a pretty crappy spot I'm standing in, and I want to chart the BEST path back to where I wish to be.

I appreciate the advice.
Be well,
David

 

[MossflowerWoods]

He needs some Fels Naptha Mouthwash!!!!

Isn't that a little harsh. It was just a suggestion. as a last, last last LAST resort. after you have sold your first born into slavery last resort.


Hey his Lil' Kioti cost just as much as my lil' Jd 5045E. and i bet he has more of his paid off.


A laugh in the face of doom is sometimes all you can do. You will muddle through you don't have any choice.

VT,

I loved the laugh. But I'd need to see receipts to prove your JD cost as little as my Kioti :laughing:... Just kidding...

Thank you for the humor.
David

 

[MossflowerWoods]

This thread has exploded. it is almost impossible to navigate bck to where I want to reply...

Thanks to all participating.

David

 

[MossflowerWoods]

I'd do some research on local values I agree it doesn't sound right .. Ladysmith, VA Home Values - Virginia | HOMES.com

That website is questionable in my book.

What is their source of data? I just paid $365k just over two years ago, and it says my property is only worth $248. I have a Bank appraisal just done for $410K, which by the way, if they had not cut my LAND value from the $225k of August 2010, down to $150K of Jan 13, we would be UNDER CONSTRUCTION! My HOUSE went from $140k to $265K with the remodel!

I would caution ANYONE using that website. It's accuracy is suspect sir.

I think the new double wide on 13 acres just down the street from me just sold for something between $269-289K...

David

 

[Barry 1]

42 acres of timber-Buy a sawmill and start building !

 

[RoyJackson]

There's only one answer then, Mossflower. Build it yourself! Or instead of a new second story, add onto the first with an addition.

I agree...and, if the house is in that poor a condition (roof leaking, etc), a fresh start might be worth it.
I suggest you look into modular homes (these are NOT mobile homes or doublewides). I've seen a few here in VT that were pretty nice.

 

[MossflowerWoods]

One thing to consider when borrowing for that dream home in the country is the future price of gas. It may well stay at $4.00 and even go to $8.00 or $12.00 and if it does then all parcels that are more then walking distance to a rail or bus line will drop in value by half or more. It won't make any difference if you don't have to commute in town to work the market will be set by those that do.

This is HUGE and much worse than we expected. My wife was driving well less than the 15K miles per year average. We put less than 80K miles on her car from July 05 to July 11. Her new car has 39K miles on it just since July 11. My commute (only 3-4 days per week) is 84 miles ONE WAY, my F-150 is getting 16 to 16.5 mpg... My monthly GASOLINE bill is outrageous...

But it is THOUSANDS of dollars to go buy another car, plus insurance, etc...

Excellent point.
David

 

[MossflowerWoods]

I agree...and, if the house is in that poor a condition (roof leaking, etc), a fresh start might be worth it.
I suggest you look into modular homes (these are NOT mobile homes or doublewides). I've seen a few here in VT that were pretty nice.

Roy,

I plan to build or have built, a new home up on the ridge behind the horse pasture someday (AFTER I profitably or alt least break even on my other two homes).

I'm in a modular now. It has its warts... the roof has two issues. #1 the dead guy was a cheapskate and he used poor shingles, and I suspect did it himself, parts of the roof have no felt underlayment. It is simply due for a new roof on one hand. The really BIG issue the roof has is partly due to modular (it is bolted together) and mostly due to poor workmanship of the guys doing the bolting together. one of the dormers was flipped to the back side, and they just cut a hole and bolted it down. I can see the shingles wedged between the 2x4's... of course it leaks...

One of the other dormers leaks also. Similar poor workmanship.

No matter what I do, the dormers MUST be removed and rebuilt correctly, I do not think they can be saved. At a minimum I will re-engineer them. Probably make them bigger, etc.

I want to fix these problems ONCE, and not spend more than appropriate.

David