Since 2011 the real estate market has come a long way. And this is great news for homeowners. As of now, almost 79% of homeowners that have a mortgage have significant equity in their homes. This means they have over 20% of the home’s value as equity.
But not every homeowner knows exactly what their home’s value has risen to.
Nationally, home prices have risen significantly over the bottom of the market, which was in March 2011. Right now the average home price is 50% higher than it was at that time.
A survey I recently read states that home values will increase by another 5% by this time next year. That’s an amazing rise in prices. That means a average home worth $400,000 today, will be worth $420,000 one year from today.
So, do you know what your house is worth? Have you been keeping your eye on the market? Have you put off the move in to your dream house because you don’t think you have enough equity to buy it yet?
Maybe you should try this. Call Bunny and Art, we can give you a good idea of what your home is worth. And then you can make that decision as to whether or not is time to move up to your dream home or not. Remember having the knowledge is the key.
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