Anyone involved in real estate (even those buying homes) has seen this going on and now with the numbers from MNAR, I can show you.
In 2008 we all noticed the dramatic drop in the market value of real estate. Month-by-month, our values steadily decreased until we plateaued mid-2009 through the beginning of 2011. Instead of starting upward, the numbers got lower than we imagined the could have. But in early 2012, we finally saw some improvement and values have steadily increased since. This is wonderful news for many homeowners, particularly those who bought in 2011. They are seeing quick equity in their investment.
Did this upswing in market values get you right side up again? Don’t go by your county tax estimated value – that does not reflect our current market at all! The only way to know for sure is to call for a free market analysis (or pay for an appraisal). 651-674-2639