Re: A bad real estate deal

From: Nancy Slator <neslator@amherst.edu>
Subject: Re: A bad real estate deal
Date: Fri, 08 Jan 1999 09:37:36 -0500 (EST)

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On Wed, 6 Jan 1999, Jim McGrath wrote:

> My guess is that your town assesses homes at 75% of market value. 

Thanks for offering comfort, but I just checked with the assessor's office
and in our state (Mass.) the assessment has to be the full value of the
house.  So we really do owe $10,000 more on the mortgage than the $82,000
it's assessed at. (And this is not a depressed market -- values are
increasing again and the average house in this town costs twice what ours
did.)

I'm still looking for ideas on how we could offload this monster if we had
to move.

- -- Nancy Slator, neslator@amherst.edu



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