How Much Equity Do You Have in Your Home? You May Be Surprised!
CoreLogic’s latest Equity Report revealed that 675,000 US homeowners regained positive equity in their homes in 2017. This is great news for the country, as 95.1% of all mortgaged properties are now in a positive equity situation.
“U.S homeowners with mortgages (roughly 63% of all the properties) have seen their equity increase by a total of $908.4 billion since the fourth quarter 2016, an increase of 12.2%, year over year.”
This is great news for homeowners! But, do they realize that their home's value has increased dramatically?
A study by Fannie Mae suggests that many homeowners are not aware that they have regained equity in their homes as their home investment has increased in value. For example, their study showed that 23% of Americans still believe their home is in a negative equity position when, in actuality, CoreLogic’s report shows that only 4.9% of homes are in that position (down from 6.3% in Q4 2016).
A study, suggests that 37% of Americans believe that they have “significant equity” (greater than 20%) when in actuality, 83% do!
If you are one of the many homeowners who are unsure of how much equity you have gained on your home, don’t let that be the reason you fail to move on to your dream home in 2018! Let’s get together to evaluate your situation!
List your home with Acuity Group before May 1, 2018 and receive a $500.00 commission discount upon successful closing!
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 the experienced professionals at Acuity Group can boost your profits!
Ready to get an estimate of your home's current value? Contact Acuity Group today!
Acuity Group Real Estate Professionals
564 Dodge Ave Suite A
Elk River MN 55330