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.
Should I Move with Today’s Mortgage Rates?
While you could delay your plans until rates drop, you’ll only have more competition with those buyers if you do.
The Top 5 Reasons You Need a Real Estate Agent when Buying a Home
Keep in mind, every time you make a big decision in your life, especially a financial one, you need an expert on your side.
Don’t Let Your Student Loans Delay Your Homeownership Plans
You don’t have to figure this out on your own. The best way to make a decision about your goals and next steps is to talk to the professionals.
Boomers Moving Will Be More Like a Gentle Tide Than a Tsunami
While not all baby boomers are looking to sell their homes and move – the ones who do won’t all do it at the same time.
The Best Week To List Your House Is Almost Here
The third week of April brings the best combination of housing market factors for sellers.
Is It Easier to Find a Home to Buy Now?
To help you explore the growing list of choices you have now, team up with a local real estate agent you trust.
What Every Homebuyer Should Know About Closing Costs
Your closing costs are the additional fees and payments you have to make at closing.
What Are Experts Saying About the Spring Housing Market?
If you’re planning to move soon, you might be wondering where prices and mortgage rates are headed, and how to navigate today’s market.
4 Tips To Make Your Strongest Offer on a Home
Your agent is your partner in navigating details. Trust them to lead you through negotiations and help you figure out your best plan.
Why Today’s Seller’s Market Is Good for Your Bottom Line
The market is still working in favor of sellers. If you house is ready and priced competitively, it should get a lot of attention.