Can an ordinary house increase in value by 3% in one month!?
Our TMP house continued to appreciate, increasing by $4,180 (1.8 %) according to the average of estimates at Redfin, Zillow and Realtor.com:
In fact, Zillow had it up 3.0% ($7,140) in one month:
Did the house increase in value by $7,000: Or by $4,000? There is no way of telling short of selling it. And even that would not tell you what you would have sold for a month ago.
Now that January 2021 is completed, TMP is comfortably in second place in “The Financial League” and gaining on Number 1 Gold.
We did want to point out one other aspect of the estimates on Redfin, Zillow and Realtor.com. The estimates are updated daily as expected. In fact, the Zillow estimate increased by $890 from the 29th of January to the 31st:
The lesson learned is to be careful of these estimating tools if you are using them for historical analyses. They are “changing” the past. More on that later.
Last month we recorded some New Year’s Resolutions:
Happy New Years to all! Do we have any New Year’s resolutions?
We are on track to buy a second Monopoly house (COE on 16 Feb) and have two loans lined up. One loan to buy the new house with our new equity partner, Realtor Just Jeff, and the other loan to refinance the Valencia house from “The Bank of Michelle”. Note that the “Financial League Standings” now includes “1.5 Houses” as a parenthetical to TheMonopolyProject entry. This reflects that fact that we bought another house but are only counting it as one half for scoring purposes since Jeff owns the other half. Is he starting his own MonopolyProject?
For the next monthly update, the Second Anniversary of TheMonopolyProject, we will also talk about some changes to the nine alternative investments to The Monopoly Project.