This year marks the nine year anniversary of our ranch. We never set out to buy a horse property, it just sort of fell in our lap. It was a distressed property with a long history of multiple owners that had two things in common, financial and marital hardship. The house sat vacant for about a year before an investor bought it and flipped it for way under market value… to us.
Although the property was a bargain, it was still way over our price range… way over. But considering the acreage was in a prime location, we decided the purchase was a good investment for our future.
The plan was to sell in ten years and cash in. That was in 2004, soon after that, the housing market completely crashed and burned.
With only a year to go on our investment purchase, I cringe at the mere thought of an appraisal. I’m not at all happy with the selling prices in the neighborhood, especially the three short sales of nearby properties. This could greatly effect our home’s value, regardless of the countless property improvements we done over the years.
Here’s a few before and after pics of all our hard work…
Luckily, we bought under market value, hopefully we break even. If not, we wait it out. Because after all, there’s hope and change… yeah right.