Quest for a Million – Net Worth – 3/2011

1 Year Zillow Graph of My Home Valuation
Well, my net worth is going in the wrong direction, largely due to the deteriorating value of the homes in my area as you can see by the graph on the right. The good news is that I re-financed last year when rates were good and my home valuation was high enough to show 20% equity. There would be no chance of either of those occurring today. The other good news is I am still looking at purchasing an investment property this year. The continued decline in home values here is placing downward pressure on the prices of the homes I’m watching. Additionally, the number of homes falling into my search criteria continues to rise. I love it when supply is outpacing demand and I’m on the demand side!

Getting back to my net worth, the only real changes appear on the asset side, and aside from the home valuation, they’re all positive this month. I like that a lot. I’ve removed the Prosper change percentages since they’re misleading because I want them to go down. I’m slowly emptying that account into my savings. My current portfolio of 3 loans are all current and due to be paid off by mid-summer. In terms of liabilities, I continue to pay the mortgage and student loans down at a slightly accelerated rate. Credit cards are paid in full every month and carry an unpredictable amount of business expenses so I removed those non-useful percentages as well.

The only net worth change I anticipate between now and next month is my tax refund which will serve as a 1 time gain that will be used to complete the funding of the 2010 Roth’s a little later than I’d hoped and to add to savings.

Net Worth March 2011

ASSETSThis Yearvs. Last Month
Real Estate
My Home (Zillow)$352,000-9%-5%
All Accounts$24,861-50%5%
All Accounts$220,6519%1%
529 Plan$12,09224%1%
Total Assets$614,974-3%-3%
Credit Cards*
All Accounts$6,740
Student Loans
All Accounts$67,656-2%-1%
Mortgage Loans
My Home$300,607-1%0%
Total Liabilities$375,003-2%0%
NET WORTH$239,971-5.3%-6%
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