Yesterday, we shared theresultsof the latestHome Price Expectation SurveybyPulsenomics. One of the big takeaways from the survey is that over the next five years, home prices will appreciate 3.5% per year on average, and cumulatively will grow by around 18%.
So what does this mean for homeowners and their equity position?
For example, let’s assume a young couple purchased and closed on a $250,000 home in January of this year. If we only look at the projected increase in the price of that home, how much equity would they earn over the next 5 years?
Since the experts predict that home prices will increase by 4.5% this year alone, the young homeowners will have gained over $11,000 in equity in just one year.
Over a five-year period, their equity will increase by over $46,000! This figure does not even take into account their monthly principal mortgage payments. In many cases, home equity is one of the largest portions of a family’s overall net worth.
Not only is homeownership something to be proud of, it also offers you and your family the ability to build equity you can borrow against in the future. If you are ready and willing to buy, let's meet up to find out if you are able to today!
Author:Heather F Davidson Phone: 609-209-7581 Dated: August 16th 2016 Views: 269 About Heather: I'm an agent whose business is built on the promise of exceptional customer service. If you are sel...
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Specialties: Buyer's Agent, Listing Agent, Relocation, Short-Sale
I'm an agent whose business is built on the promise of exceptional customer service. If you are selling your home or searching for that special place to call your own, you deserve to work with someone you trust-someone who you know has your best interests in mind. Whatever your particular Real Estate need, I'll work hard to make sure that you are completely satisfied. I have the knowledge, experience, and dedication that it takes to get results.
We hope 2018 is a great year for you, both personally and
""Heather was very patient during the whole process and helped us through every step of the way. She was fantastic and I would highly recommend to anyone! Heather always helped us see positive and negatives in each house and geared it all to what we wanted. She was able to meet at all times during the day and always made herself available during the whole experience. She was very knowledgeable about the area and provided us with great representatives for the other parts of the process. Heather was a pleasure to work with and will definitely be a great asset when looking for a house!"