Recently there has been a lot of talk about home prices and if they are accelerating too quickly. In some areas of the country, seller supply (homes for sale) cannot keep up with the number of buyers out looking for a home, which has caused prices to rise.
The great news about rising prices, however, is that according toCoreLogic’slatestUS Economic Outlook,the average American household gained over $11,000 in equity over the course of the last year, largely due to home value increases.
The map below was created fromCoreLogic’sreport and shows the average equity gain per mortgaged home from June 2015 to June 2016(the latest data available).
For those that are worried that we are doomed to repeat 2006 all over again, it is important to note that homeowners are investing their new found equity in their homes and themselves, not in depreciating assets.
The added equity is helping families put their children through college, and even invest in starting small businesses, allowing them to pay off their mortgage sooner or move up to the home that will better suit their needs now.
CoreLogicpredicts that home prices will appreciate by another 5% by this time next year. If you are a homeowner looking to take advantage of your home equity by moving up to your dream home, let’s get together to discuss your options!
Author:Bonnie Lelak Phone: 404-788-2580 Dated: October 20th 2016 Views: 13 About Bonnie: Experience with regular home sales, short sales, foreclosures, HUD homes, no down payment program ho...
As a Realtor I have been able to use many of the skills that I have learned from my previous experiences. I spent the past 10 years owning a home inspection company with my husband and watched as buyers would find a home and then have it inspected and be disappointed with the findings. I love being able to help buyers from the start of the process. As a buyers specialist I can help clients look at homes with a different eye, always looking for tings that the home inspector will find issues with and helping my clients see possible issues before going under contract, saving them time, money and heart ache. Servicing all levels of buyers, from the first time home buyers to the luxury buyers. The finishing touch is being able to provide them with tools that can help them pay off their home in less than half the time. Helping buyers find their dream home is very rewarding.
As a listing specialist, I find unique ways to get the attention of the buyers, from text marketing, video, and getting your home listed on the first page of Google, it's all about exposure. I use all the outside marketing tricks and tips that I used and learned over the past 8 years to get the word out about your home. Contact me to find out about my exclusive marketing plan!
Home values have risen dramatically over the last twelve months. The l
"Bonnie is a very conscientious real estate agent with the utmost integrity. If Bonnie does not know all the facts of a question or requested information she will tell you up front that she may not know all the details but she will certainly do her best to find the answers and will not mis-lead you. Bonnie is very Spiritual person and is a pleasure to work with. We came to know each other quite well on the last 6 months and We would highly recommend Bonnie to represent any of our friends, relatives, associates or church members.
Again it was a pleasure to work with Bonnie and we do plan to work with her a gain in the near future.