I can do a FREE Onsite No Obligation Valuation that is much more accurate than the computer model as it takes into account all the special things and upgrades on your home rather than just the squarefootage.
Call Me at 772-444-6696 or email me at DawnBurlace@gmail.com to set up an appointment. I will also do a free consultation to let you know what things you can/should do to make your home sell FAST what simple fixups are necessary to get the most for your property.
CoreLogicrecently released their2015 2ndQuarter Equity Reportwhich revealed that 759,000 properties had regained equity in the last quarter. That means that 91% of allmortgaged properties(approximately 45.9 million) are now in a positive equity position. Anand Nallathambi, president and CEO ofCoreLogic, reported:
“For much of the country, the negative equity epidemic is lifting. The biggest reason for this improvement has been the relentless rise in home prices over the past three years which reflects increasing money flows into housing and a lack of housing stock in many markets.”
Obviously, this is great news for the financial situation of many homeowners.
But, do they realize their equity position has changed?
Arecent studybyFannie Maesuggests that many homeowners are unaware that their equity position has changed…in some cases dramatically. For example, their study showed that 23% of Americans still believe their home is in a negative equity position when, in actuality, only 9% of homes are in that position.
The study also revealed that, though 69% of homes had “significant equity” (greater than 20%), only 37% of Americans realize it.
This means that 32% of Americans with a mortgage fail to realize the opportune situation they are in. With a sizeable equity position, many homeowners could easily move into a housing situation that better meets their current needs (moving to a larger home or downsizing).
Fannie Maespoke out on this issue in their report:
“Homeowners who underestimate their homes’ values not only underestimate their home equity, they also likely underestimate 1) how large a down payment they could make with their home equity, 2) their chances of qualifying for mortgages, and, therefore, 3) their opportunities for selling their current homes and for buying different homes.”
Every homeowner should be aware of the true equity in their house and also realize the opportunities that go along with it. If you are unsure of the savings you currently have built up in your home, contact a real estate professional to help ascertain that number. You may be surprised.
Author:Dawn Burlace Phone: 772-444-6696 Dated: October 13th 2015 Views: 639 About Dawn: ...
Atlantic Shores Realty is ready to assist you with all your real estate needs. Our website has information whether you are selling a home on the Treasure Coast or Palm Beaches or buying a home on the Treasure Coast or Palm Beaches.