house_well-11 [NOTE: This post is an updated copy of the post I made last year, which was a copy of the post from 2008, which had tons of comments relating to how Fairfax County seemed to change its assessment forumulas, flipping more of people’s value from their house to their land.]

THE BASIC SUMMARY: Our real estate assessment dropped again, by 18% (ouch!), to $298K. Biggest loss yet..

In 1999, we bought the house at $141K.
In 2000, we were assessed at $142K.
In 2001, this grew by 3.5% to $147K.
In 2002, this grew by 39% to $205K.
In 2003, this grew by 3% to $211K.
In 2004, this grew by 24% to $261K.
In 2005, this grew by 34% to $349K.
In 2006, this grew by 13% to $395K*.
In 2007, this grew by 3% to $406K (peak).
In 2008, this dropped by 7% to $375K*.
In 2009, this dropped by 3% to $364K.
In 2010, this dropped by 18% to $298K. Ouch. Biggest loss yet..

We’re 37% down from our peak, but it’s still worth 2.2X more than we owe on the mortgage ($135K), meaning we’re still $163K ahead.

Broken down via land vs. building:

LAND:
2000: $71K
2001: $71K
2002: $90K (+27%)
2003: $100K (+11%)
2004: $150K (+50%)
2005: $184K (+23%)
2006: $166K (-10%)
2007: $166K
2008: $184K (+11%)
2009: $166K (-10%)
2010: $148K (-11%)

BUILDING:
2000: $71K
2001: $76K (+7%)
2002: $115K (+51%)
2003: $111K (-3%)
2004: $111K
2005: $165K (+49%)
2006: $229K (+39%)
2007: $241K (+5%)
2008: $192K (-20%)
2009: $198K (+3%)
2010: $150K (-24%)

FOOTNOTE: 2006 was about when the construction was mostly finished, but due to problems with it being completely finished, it might not have been legally counted as finished until 2008.

RANDOM NOTE: The Google Chart Playground is very, very useful. Saves a lot of manual page refreshses…

Mood: meh
Music: Megadeth – Tornado Of Souls

THE END

This is the code for the google graph above, which I am simply inserting here should I need it in this particular formatting again next year:


NOTEchg_is_100_divided_by_numyears,10_div_by_vertical_steps
chg=9.09,11.11
chd=t:141,142,147,205,211,261,349,395,406,375,364,298
-1,71,71,90,100,150,184,166,166,184,166,148
-1,71,76,115,111,111,165,229,241,192,198,150
141,140,136,132,127,163,162,153,150,147,140,135
chds=0,450
chs=500x400
cht=lc
chco=FF0000,00BB00,0000FF,aaaa00
chdlp=t
chm=o,BB0000,0,-1,6
d,008800,1,-1,7
o,0000AA,2,-1,5
s,777700,3,-1,4
a,cc8800,3,5,7
@tRefinance,333300,2,.39:.44,18
chdl=TOTAL
LAND+only
HOUSE+only
remaining+mortgage
chxt=x,y,r,t
chxl=0:
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
1:
$0K
$50K
$100K
$150K
$200K
$250K
$300K
$350K
$400K
$450K
2:
$0K
$50K
$100K
$150K
$200K
$250K
$300K
$350K
$400K
$450K
3:
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010

LAND VALUE CHANGE:
chg=0,60,5,5,0,-32
chco=00BB00
cht=bvs
chs=380×200
chd=t:0,0,0,27,11,50,23,-10,0,11,-10,-11
chxt=x,y,t,r
chem=y;
y;s=bubble_text_small;d=bbtr,Land++value+percent+change,55ee55,000;ds=0;dp=1.5;py=1;of=-50,-55
chds=-20,50
chxr=0,1999,2010
1,-20,50
2,1999,2010
3,-20,50
chxl=0:
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
1:
-20
-10
0
10
20
30
40
50
2:
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
3:
-20
-10
0
10
20
30
40
50

BUILDING VALUE CHANGE:
chg=0,60,5,5,0,-23
chco=0000FF
cht=bvs
chs=380×200
chd=t:0,0,7,51,-3,0,49,39,5,-20,3,-24
chxt=x,y,t,r
chem=y;
y;s=bubble_text_small;d=bbtr,Building+value+pct+change,8888FF,333333;ds=0;dp=1.5;py=1;of=-40,-57
chds=-30,50
chxr=0,1999,2010
1,-30,50
2,1999,2010
3,-30,50
chxl=0:
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
1:
-20
-10
0
10
20
30
40
50
2:
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
3:
-20
-10
0
10
20
30
40
50