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Subject Expert
Are you trying to sell? If not, then potential valuation doesn’t really matter.
I bought in 2010, and was upside down in 2012. But I didn’t sell until 2018, so it didn’t matter until then.
“Stonks only go up”
Applies to RE
Coach
Personal residences are a place to live not an investment
Bless your heart
You purchased at the peak?
Lol those tell me that the house i closed on a week ago is worth $200k+ what we paid. While i know we paid under market and list price, i wouldn’t put too much stock into those valuations.
Take your "Zestimate" with a grain of salt
Community Builder
Get with a realtor to get more accurate comps.
Expect prices to start moving up again as interest rates fall though. Still lots of demand waiting on rates to get lower
First few years can go up/down or stay flat. Especially with some markets seeing pretty insane growth recently. But it’s only been a year anyways, so unless you’ve made some sort of significant improvement to the home I’d say there shouldn’t be any expectation of a quick profit anyways.
With the current market and interest rates.. things are staying relatively flat. There are outliers, but interest rate hikes really brought the typical home buyer back to reality.
I’m in same boat.. sold home last year and bought again in June as rates were starting to move up. Thankfully bought below list and then made a bunch of improvements. But that really just helped keep the value “steady.” Things should improve over the next 3-5 years. 🤞
Also where are you located? How’s your towns overall appreciation rate?
Yes, it's usual. Especially for a townhouse. Generally, the equity of a townhouse grows slower than a stick built, and a condo grows even slower than a townhouse.
Are you still in touch with your buyer’s agent? If so, ask them to run market comps! They’ll check on recent comparable sales and let you know how your market value is looking if you were to sell today. Every buyer wants to see growing equity! Depending on your specific market you may see equity grow a little more slowly in the post-pandemic craziness, but your agent will help ground the question in actual numbers for you!