@ Jason, with all due repect. assessments dont mean shit. Its the value a town assesses a residence to tax them on. There is no way, Mikes house is worth only $250k-$300. either way, thats besides the point. Example, my house is assessed at $350,000 (I live in Northern NJ close to NYC and one of the still hottest real estate markets in the country). Just had an appraisal done on my house, appraisal came in at $600,000. so assessed value is far different than the current market value. and yes, I am in the banking industry, so I am not blowing smoke out my ass.