Rising Home Values and Increasing 2007 Target

I didn’t expect my house to increase much this year but it seems that real estate is up has right across the country. Check out this nifty interactive map to see how your area did over the last 12 months.

After watching the local market this spring, including some field research, :) I concluded that I was undervaluing my house quite significantly. My previous number was too low to begin with, and with the market rising I have decided to increase my house value by 7.2% to $500,000 – a number I believe is still nicely conservative.

With this increase and a strong start to the year for consulting income, I have decided to push myself and revise my 2007 net worth goal from $650,000 to $700,000. I will post April's actual net worth summary tomorrow.

In a funny little coincidence, Canadian Dream was having the same thoughts a me today. Go read his April Net Worth post and experience the deja vu for yourself!

Just a reminder also that I will be hosting the Second Canadian Tour of Financial Blogs next Monday. We have lots of great personal finance bloggers agreeing to participate and it looks like it will be a great event so be sure to join us!