The Connection Between Home Prices and Family Wealth. Over the next five years, home prices are expected to appreciate 3.22% per year on average and to grow by 17.3% cumulatively, according to Pulsenomics’ most recent Home Price Expectation Survey.
So, what does this mean for homeowners and their equity position?
As an example, let’s assume a young couple purchased and closed on a $250,000 home in January. If we look at only the projected increase in the price of that home, how much equity will they earn over the next 5 years?
Connection Between Home Prices and Family Wealth
Since the experts predict that home prices will increase by 4.4% this year alone, the young homeowners will have gained $11,000 in equity in just one year.
Over a five-year period, their equity will increase by nearly $43,000! This figure does not even take into account their monthly principal mortgage payments. In many cases, home equity is one of the largest portions of a family’s overall net worth.
In conclusion, not only is homeownership something to be proud of, but it also offers you and your family the ability to build equity you can borrow against in the future. If you are ready and willing to buy, find out if you are able to today!
Interest rates are still below historic numbers.
Tax Return Depressing? Owning a Home Could Help
US Housing Market Continues Move into ‘Buy Territory’! The index examines the entire US housing market and then isolates 23 major cities for comparison.
If you thought about selling your house this year, now may be the time to do it.
Home Mortgages: Rates Are Up And Requirements Easing. The media has extensively covered the rise in mortgage interest rates since last fall
Millennials Flock to Low Down Payment Programs. Among millennials who purchased homes in January, FHA loans remained popular, making up 35% of all loans closed
Careful…Don’t Get Caught in the Rental Trap. There are many benefits to homeownership. One of the top benefits is being able to protect yourself from…
Why it’s Important To Hire A REALTOR To Sell Your Home. When a homeowner decides to sell their house, they obviously want the best possible price for it with the least amount of hassles. However, for the majority of sellers, the most important result is getting their homes sold.
Some industry experts are claiming that the housing market may be headed for a slowdown as we proceed through 2017, based on rising home prices and a potential jump in mortgage interest rates.
Spring 2017 – Buying A Home? Be Prepared Fo Bidding Wars. Traditionally, spring is the busiest season for real estate. Buyers come out in force and homeowners list their houses for sale hoping to capitalize on buyer activity.
There are two major misconceptions that we want to address today.
The success of the housing market is strongly tied to the consumer’s confidence in the overall economy. For that reason, we believe 2017 will be a great year for real estate. Here is just a touch of the news coverage on the subject.
California Home Prices Up 6.6% Last Quarter. California outpaced national home price increase of 6.15%.
Considering a Luxury Home? Now’s The Time! If your house no longer fits your needs and you are planning on buying a luxury home, now is a great time…
Things To Consider when Selling Your House – Spring 2017 …Here are five reasons listing your home for sale this spring makes sense.
1. Demand Is Strong
Wishing you the best day of your life. Let’s celebrate like no other. You are the light of my life. Hugs and kisses.
4 Reasons To Buy Your Home This Spring. 1. Prices Will Continue to Rise
CoreLogic’s latest Home Price Index reports that home prices have appreciated by 6.9% over the last 12 months.
Best Month and Day to List Your Home? This is a long sight after question in the competitive real estate market place today. Per this study by