The Truth About Homeowner Equity
A recent article from a reputable news source was titled: Here’s why some homeowners still can’t sell. In the opening bullets of the article, the author claimed, “Negative equity is one of the main reasons why there are so few homes for sale.” The article then goes on to soften that stance but we want to bring better clarity to the equity situation.
A recent report from CoreLogic (which was quoted in the article) revealed that over 80% of all homes now have “significant equity,” which means the home has over 20% equity. That level of equity allows the homeowner to sell their home if they so desire. (There was no reference to significant equity in the article.)
If eight out of ten homeowners now have significant equity in their homes, it is hard to make the claim that lack of equity is “one of the main reasons why there are so few homes for sale.”
Here is a map showing the percentage of homes in each state which currently have significant equity:
Bottom Line
If you are one of many homeowners who is debating selling your home and are wondering how much equity you have accumulated, let’s get together to determine if now is the time to list.
To see original article please visit Keeping Current Matters.
Understand Your Options To Avoid Foreclosure
There are alternatives available to help you avoid having to go through the foreclosure process and a real estate professional can help you.
Home Price Appreciation Is Skyrocketing in 2021. What About 2022?
Price appreciation is expected to slow in 2022 when compared to the record highs of 2021.
Reasons You Should Consider Selling This Fall
If you’re trying to decide when to sell your house, there may not be a better time to list than right now.
5 Reasons Today’s Housing Market Is Anything but Normal
The market is still extremely vibrant as demand is still strong even while housing supply is slowly returning.
What You Can Do Right Now To Prepare for Homeownership
It’s important to talk to someone who understands the market and what it takes to become a first-time homebuyer.
Why 2021 Is Still the Year To Sell Your House
If you’ve been waiting for the perfect time to sell, there may not be a better chance than right now.
What To Do with Your Vacation Home as Summer Ends
Now that summer is winding down, it’s time to think about taking advantage of today’s demand for vacation homes.
What Do Experts Say About Today’s Mortgage Rates?
Don’t wait on the sidelines and hope for a better rate to come along; the rates we’re seeing today are worth capitalizing on.
Real Estate: It’s Still a Lack of Supply, Not a Lack of Demand
Housing demand is still very strong. It’s supply that’s low. Now is the time to sell!
A Look at Home Price Appreciation and What It Means for Sellers
While price appreciation is strong now, those same experts say it’ll start to appreciate at a more normalized pace next year.