Home Equity: You May Have More Than You Think

Reprint from Star News, "Real Estate News by Stephanie Danielson,  10/31/2015 issue

Core Logic recently released their 2015 2nd Quarter Equity Report which revealed that 759,000 U. S. homes had regained equity in the last quarter.  That means that 91% of all mortgaged properties (approximately 45.9 million) are now in a positive equity position.  Obviously, this is great news for the financial situation of many homeowners.  But, many homeowners do not realize their equity position has changed.

A recent study by Fannie Mae suggests that many homeowners are unaware that their current home’s value.  This study showed that 23% of Americans still believe their home is in a negative equity position when, in actuality, only 9% of homes are in that position.  The study also revealed that, though 69% of homes had “significant equity” (greater than 20%), only 37% of Americans realize it.  This means that 32% of Americans with a mortgage fail to realize the opportune situation they are in.

What does this mean to you?  With a sizeable equity position, many homeowners could easily move into a housing situation that better meets their current needs.

If you are unsure of the equity you currently have built up in your home, I’d be happy to help ascertain that number for you.  Contact me to get started in the right direction!  Stephanie@ACGProperty.com, Direct at 612-242-8747, or Click HERE to Schedule a Free Market Value/Equity Analysis!  

 “If you are thinking of buying, selling, renting your home, or leasing real estate this year we’d love to hear from you!  Working with experienced professionals can boost your profits!”

Acuity Group Real Estate Professionals

564 Dodge Ave Suite A  Elk River MN 55330

Office:  763-633-3535

www.ACGProperty.com

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SPECIALTIES: Property Management and Residential Rentals, Listing & Buyer Specialists, golf course properties, water front properties, acreage & hobby farms, condos & townhomes, association maintained properties, senior housing, luxury homes, vacation & secondary housing, CDPE (Certified Distressed Property Expert), Short Sale Specialist and REO sales & Investment property

Serving the following Minneapolis Cities & Suburbs: Elk River MN, Zimmerman MN, Big Lake MN, Rogers MN, Otsego MN, St. Michael MN, Albertville MN, Princeton MN, Ramsey MN, Anoka MN, Nowthen MN, Monticello MN, Oak Grove MN, Burns Township MN, Champlin MN, Dayton MN, Hassen Township MN, Coon Rapids MN, Blaine MN, Fridley MN, St. Francis MN, Livonia Township, Andover MN, Becker MN, Baldwin Township, Orrock Township, Plymouth MN, Maple Grove MN, Osseo MN.

Serving the following Minnesota Counties:  Sherburne, Anoka, Wright, Hennepin and portions of Isanti County

 

 

 

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