CoreLogic’s latest Equity Report, revealed that 256,000 properties regained equity in the third quarter of 2015. This is great news for the country, as 92% of all mortgaged properties are now in a positive equity situation.
This is great news for homeowners! But, do they realize that their equity position has changed?
A recent Fannie Mae study suggests that many homeowners are unaware that they have regained equity in their home, as their investment has increased in value. This study showed that 23% of Americans believe their home is in a negative equity position, when in actuality CoreLogic’s report shows that only 8% of homes are in that position.
The study also revealed that only 37% of Americans believe that they have “significant equity” (greater than 20%), when in actuality, 74% do!
This means that 37% of Americans with a mortgage fail to realize the opportune situation they are in. With a sizable equity position, many homeowners could easily move into a housing situation that better meets their current needs (moving to a larger home or downsizing).
If you are one of the many Americans who are unsure how much equity you have built in your home, don’t let that be the reason you fail to move on to your dream home in 2016! Let's get together to evaluate your situation.
Your Home May be Worth More than You Think! Schedule a FREE Home Value Analysis by clicking HERE
“Thinking of buying, selling, or renting out your home? We'd love to hear from you! Contact Acuity Group to get started in the right direction! Working with experienced professionals will boost your profit!
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Acuity Group Real Estate Professionals
564 Dodge Ave Suite A - Elk River MN 55330
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OUR SPECIALTIES: Residential & Commercial Seller and Buyer Services, Property Management & Residential Rentals, Residential and Commercial Investment Property Specialists, Listing & Marketing Specialists, CDPE (Certified Distressed Property Experts), Short Sale Specialists, REO/Bank Owned Sales. Golf course properties, water front properties, acreage & hobby farms, vacant land, condos & townhomes, industrial/manufacturing/retail properties, association maintained properties, senior housing, luxury homes, vacation & secondary housing.
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