A house on the market was valued at $264,400. After several years, the value decreased by 7% By how much did the house's value decrease in dollars? What is the current value of the house?
The value of the house decreased by 7% of $264,400, or (7/100)*$264,400 = $<<(.07*264400=18508>>18,508.
Therefore, the current value of the house is $264,400 - $18,508 = $<<264400-18508=245892>>245,892. Answer: \boxed{245,892}.