What’s Your Home’s True Value?

Buying a home? Click here to perform a full home search Selling a home? Click here for a FREE Home Value Report Nationally, the real estate market excels. Home prices increased in every region since last year. According to CoreLogic, 91 percent of all mortgaged properties are now in a positive equity position. Although this is great news for homeowners, many homeowners may not realize their equity position changed. A recent Fannie Mae study suggests many homeowners are unaware of their equity changes. The study reveals 23 percent of Americans believe they’re in negative equity, even though only 9 percent are actually in negative equity. Additionally, 37 percent believed they have more than 20 percent equity while 69 percent actually do! Thus, 32 percent of Americans with a mortgage fail to recognize a great opportunity. With a sizeable equity position, many homeowners can easily move into a housing situation that benefits their current needs. For instance, they could move into a larger home or downsize. Every homeowner should be aware of the true equity in their house. Be aware of the opportunities that come with excellent equity. If you’re unsure about the savings in your property, contact a real estate professional to obtain that number. You could be shocked! If you’d like specific home prices for your area or would like an estimate on your home, please reach out to us. We would love to hear from you!