Real Estate Blog - Equity

Do You Know What Your House Is Really Worth?

Some Highlights

• Over the past 5 years, home prices have risen dramatically. If you own a home, that means your house may be worth a lot more than you think. ​
• Nationally, prices are up nearly 60% since 2019. ​And, if selling has been on your mind, you can use that bigger-than-expected return to power your next move.
• ​Do you want to know how much your home is worth in today’s market? Let’s connect.​ The number may surprise you.

Originally posted at Simplifying The Market.

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Time in the Market Beats Trying To Time the Market

Some Highlights

• Are you torn between whether to buy a home now or wait? Consider this.
• Forecasts show prices will climb for ​at least the next 5 years. If you wait, the price of a home will be higher later on. But, if you buy a $400K now, you could gain roughly $83K in equity as prices rise.
• If you're able to buy now, this equity is one reason why it'll be worth it in the long run. Let’s connect if you're ready to talk through ways we can make it happen.

Originally posted at Simplifying The Market.

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How Much Home Equity Have You Gained? The Answer Might Surprise You

Have you ever stopped to think about how much wealth you’ve built up just from being a homeowner? As home values rise, so does your net worth. And, if you’ve been in your house for a few years (or longer), there’s a good chance you’re sitting on a pile of equity — maybe even more than you realize.

What Is Home Equity?

Home equity is the difference between what your house is worth and what you owe on your mortgage. For example, if your house is worth $500,000 and you still owe $200,000 on your home loan, you have $300,000 in equity. It’s essentially the wealth you’ve built through homeownership. Right now, homeowners across the country are seeing record amounts of equity.

According to Intercontinental Exchange (ICE), the average homeowner with a…

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Time in the Market Beats Timing the Market

Trying to decide whether it makes more sense to buy a home now or wait? There’s a lot to consider, from what’s happening in the market to your changing needs. But generally speaking, aiming to time the market isn’t a good strategy – there are too many factors at play for that to even be possible.

That’s why experts usually say time in the market is better than timing the market.

In other words, if you want to buy a home and you’re able to make the numbers work, doing it sooner rather than later is usually worth it. Bankrate explains why: 

Here’s some data to break this down so you can really see the benefit of buying…

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How Home Equity May Help You Buy Your Next Home in Cash

Building equity in your house is one of the biggest financial advantages of homeownership. And right now, homeowners across the country are sitting on record amounts of it.

Here’s a look at how that equity could be a game changer for you, and why it’ll flip your perspective from “Why would I move right now?” to “Why wouldn’t I?”

Home Equity: What Is It?

Home equity is the difference between how much your house is worth and how much you still owe on your mortgage. For example, if your house is valued at $400,000 and you only owe $200,000 on your mortgage, your equity would be $200,000.

Why Equity Is Such a Big Deal for Homeowners Looking To Sell

Recent data from the Census and ATTOM shows how significant today’s home equity really is. In…

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Why Today’s Mortgage Debt Isn’t a Sign of a Housing Market Crash

One major reason why we’re not heading toward a foreclosure crisis is the high level of equity homeowners have today. Unlike in the last housing bubble, where many homeowners owed more than their homes were worth, today’s homeowners have far more equity than debt.

That’s a big part of the reason why even though mortgage debt is at an all-time high, this isn’t 2008 all over again. As Bill McBride, Housing Analyst for Calculated Risk, explains:

Today’s homeowners are in a much stronger position than ever before. So, let’s break it down and see why today’s mortgage debt isn’t anything to fear.

More Equity, Less…

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The Big Difference Between Renter and Homeowner Net Worth

Some Highlights

• If you’re torn between renting or buying, don’t forget to factor in the wealth-building power of homeownership.
• Unlike renters, homeowners gain equity as they pay their mortgage and as home values rise. That’s why, on average, a homeowner’s net worth is nearly 40x higher than a renter’s.
• Let’s connect if you want to learn more about the financial benefits of homeownership or the programs that can help make buying possible.

Originally posted at Simplifying The Market.

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Why Buying Now Is Worth It

Some Highlights

• You may be torn between buying a home now or waiting. But don’t forget to factor in the equity you’ll gain as prices rise.
• Experts forecast prices will climb over the next 5 years – and based on those forecasts, you could gain about $90k in equity in that time.
• So, you could wait, but you’ll miss out on a lot of equity if you do. If you’re ready and able to buy, let’s connect so you can start growing your wealth now.

Originally posted at Simplifying The Market.

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The Benefits of Using Your Equity To Make a Bigger Down Payment

Did you know? Homeowners are often able to put more money down when they buy their next home. That’s because, once they sell, they can use the equity they have in their current house toward their next down payment. And it’s why as home equity reaches a new height, the median down payment has too.

According to the latest data from Redfin, the typical down payment for U.S. homebuyers is $67,500—that’s nearly 15% more than last year, and the highest on record (see graph below):

Here’s why equity makes this possible. Over the past five years, home prices have increased significantly, which has led to a big boost in equity for current homeowners like you. When you sell your house and move, you can take the equity that gives you and apply it toward a…

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Now’s the Time To Upgrade to Your Dream Home

If you’ve been wanting to sell your house and move up to a bigger or nicer home, you’re not alone. A recent Inman survey reveals the top motivator for today’s homebuyers is the desire for more space or an upgraded home (see graph below):

But there’s also a good chance you, like many other people, have been holding off on that goal because of recent market challenges. It makes sense – when you’re planning an upgrade that could increase your monthly housing costs, affordability has a huge impact on when you make your move. But there’s good news: now’s actually a great time to make that move happen. Here’s why.

You Have a Lot of Equity To Leverage

One of the key benefits in today’s market is the amount of equity you’ve likely built up in your…

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