
Three years ago, just as the housing market was beginning its rapid descent, we purchased a perfect three-bedroom home in South Florida for $325,000.
It was in a great neighborhood. Excellent school district. We were set.
At the time it was priced right to sell ($379,000) — other nearby homes were hovering around the low $400’s. So we were thrilled when our “miracle offer” was accepted with no counters or questions asked. We celebrated the “steal of the century.”
Unfortunately, our joy didn’t last long.
Each year we helplessly watched as our home value continued to sink like a rock. We’re still not even sure if it has hit bottom — we’re too scared to look. Last time we checked our home was roughly worth about $250,000, which is about a $75,000 hit.
Many homeowners today are in similar if not worse positions. We understand that. Still, that’s a lot of money.








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