About once a year I "appraise" my own home using the BOA website.http://www.bankofamerica.com/modular/index.cfm?template=hc_home_worth_modular&app=oma&sitename=modularI use "_unrealized gain" because it works best for me. I have been doing this for years.I also do the same for my cars using the kbb website and about once per quarter I enter "_unrealized gain" (depreciation in value) there as drop in value. An accountant would want me to set up a depreciation expense account. However, since I don't have to use GAAP, I choose to keep this non-cash flow expense out my cost-of-living (or consumption) expenditures. For my records I generally use the trade-in value (lowest value) so my records show conservative valuations of assets.
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