| This month we saw a healthy First Quarter and commensurate distribution, along with an adjustment to my home value. I hate adjusting the price of real estate; it’s hard to get an accurate bead on the price and hard to be objective. But, I cannot ignore meaningful price discovery methods (mostly online, but also anecdotal) that have me undervaluing my home by about 15% (my other real property has increased in value too, but I’m leaving it for the time being). Accordingly, I’ve adjusted my home value conservatively to make it "less undervalued" (now, by about 6%) and, as always, deduct transaction costs of any sale to get a realistic after-tax net asset value. |