Prices are up!  Or are they down? “How about my house?”

Have you asked yourself that question lately?  My neighibor just sold her home for $400,000. It is identical to mine but my tax bill says it is worth $290,000.  “I just checked my Homeowners Policy, it lists my home at $350,000. Which is correct?”

They may all be correct!  Homes are valued is several ways, depending on who wants to know. The buyer or seller, the tax assessor and the Insurance Co.

Your neighbor sold her house for $400,000 because that is what the buyer agreed to pay. If more people want to buy it, the price will go up. If there are less buyers, the price will go down.

The tax assessor simply needs to collect a certain amount of money from each home to cover community expenses. Expenses go up, they need more taxes. Expenses go down, “Yeah that’s going to happen” they need less money.

Your and your Insurance Agent have a different point of view.

Picture this:  You and your family just arrived from the vacation of your dreams. Your mail box greets you. But rubble is piled where your house once stood!  Got you thinking yet? Good!

The buyer the seller or the tax guy don’t matter now. How much premium you paid to the Insurance Co. doesn’t matter very much either.

The only price that matters now is the amount you will need to rebuild your house and replace everything in it, that has made it Your Home.

Wake up! It was just a dream. Well is was actually a nightmare. You still have time to buy some peace of mind.