How Rising Prices Will Help You Build Family Wealth in 2018
Over the next five years, home prices are expected to appreciate on average by 3.35% per year and to grow by 24.34% cumulatively, according to Pulsenomics’ most recent Home Price Expectation Survey.
So, what does this mean for homeowners and their equity position?
As an example, let’s assume a young couple purchases and closes on a $250,000 home this month (January). If we only look at the projected increase in the price of that home, how much equity will they earn over the next 5 years?
Since the experts predict that home prices will increase by 4.2% in 2018, the young homeowners will have gained $10,500 in equity in just one year.
Over a five-year period, their equity will increase by nearly $45,000! 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.
Bottom Line
Not only is homeownership something to be proud of, but 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, find out if you are able to today!
Selling This Fall? You Want To Get These 4 Things Right.
Selling your house this fall is absolutely doable. Buyer activity typically starts to slow while the number of homes for sale climb – and you need the right strategy to get attention in this type of market.
Selling This Fall? You Haven’t Missed Your Window
Getting your house sold this season comes down to how well it’s priced and presented, and that’s where a local agent shines.
Thinking About Tapping into Your 401(k) To Buy a Home? Read This First.
No matter which route you take, talk with a financial expert first. The buyers who come out ahead build a solid plan with the right professionals before starting their journey to homeownership.
Most Home Sales Close – Here’s How To Keep Yours on Track
Some reasons are outside a seller’s control, like whether a buyer’s loan clears or whether they sell their own home in time. But there are a few proactive things you can do to help make sure your sale goes as smoothly as possible.
Selling a Luxury House? Here’s Why Now Is a Good Time
High-end buyers tend to feel less of the affordability pressure weighing on many households today, so they keep buying even when the wider market slows.
More Homes, Better Prices: A Buyer’s Summer
Sellers are reading market conditions and are pricing accordingly from the start rather than listing high and cutting later, and buyers are taking note and making bids.
The “Take It or Leave It” Attitude Is Fading from the Market – What That Means for You
That’s why whether you’re buying or selling today, there are two terms you’ll hear a lot: concession and incentive.
What Buying or Selling a Home Gives Back to Your Community
Want to know what a move would mean where you live? A local agent can show you the figure close to home.
The 1 Factor That Explains Everything Happening with Home Prices Right Now
The national average of 1.7% price growth is accurate, but it’s an average of two very different stories happening at the same time – the few areas experiencing mild declines and the overwhelming majority that are still seeing prices rise.
That House That’s Been Sitting Could Be Your Best Shot at a Deal
A local agent has the context to tell which homes are the real opportunities and which are skippable.