I purchased my home in December of 2012. (acquired a mortgage, rather) I paid a fair price of $158k at the time. It's 4 miles from work and I can ride my bike in. That was one of the main reasons to move. I heard that my neighbor had their house for sale for some crazy number, well over $300k. It has not sold yet. However, just around the corner about 1 mile away, in an almost identical neighborhood, a house with the same sized lot, that's 20 years older sold for $320k about two weeks ago. Several others sold for over $300k as well. Zillow estimates my place at $235k. So I have a hard time understanding these numbers... did some people just pay ridiculous amounts? I found pictures, our house is just as nice as the ones that sold.
Our home fits our needs, 3 bed, 2 bath, and we have 2 kids. We've been fixing it up more as we've lived there, so I'd honestly hate to leave now! But if there's a way to get some value out of this, it's not our dream home either. (I'd like some more outdoor yard space.)
I still owe $148k on the loan. Is there anything beneficial I can do? Eliminate mortgage insurance, etc? I used a USDA home loan to purchase.