Hello everybody ant thank you for answering.
Sorry I was not very clear with the informations I gave.
We did spent 950000 on the house and it was actually well priced back then.
We both the house thinking about staying long term and for that reason we did not care too much about having to remodel to make it the house of our dreams.
4 years down the road we haven`t had children yeat and we are both very busy with our jobs and barely at home.
The house is absolutely stunning right now and at one point I was told was woth more than 2 milllions.
As far as zillow goes, the estimate is valued on the house next door that sold for 1650000 2 years ago (2 years after we both ours) and is comparable in size and lot.
That said our lot is much better as is fully usable with views while the other is mostly on a slop.
We also have an extra garage and since moved in the family next door spent another 200000 to 300000 between inside and backyard.
What I am trying to say is that (I hope) the estimate on zillow doesn`t take in consideration that our house is fully remodeled right now compared to when it sold in 2003 and might be worth more than that.
The real problem is that we have about 1000000 or more equity in a house that is too big for us and is about to depreciate. Shall we just cash in and re-invest in a crushed market or stay put and enjoy the house after all the money and effort we put into it?