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.
Bottom Line
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!
Credit repair tips to buy a home – be ready for great deals
With the real estate market in position to decline for a minimum of next 18 to 24 months by the time you have repaired your credit you'll see great value for what you can purchase. In all actuality, if you have the diligence to do it yourself it's quite simple, but it...
I'm losing my house in Ontario, CA. Is a short sale the best option? What should I do?
short sale rancho short sale Rancho Cucamonga California Southern California REO bank owned San Bernardino county Los Angeles County Upland Short Sales Chino Hills Short Sales Rancho Cucamonga Upland Ontario Claremont Chino Hills Answers to help you avoid foreclosure IndyMac Federal Bank IndyMac should I short sale my home buying home back after short sale California Senate Bill 1137 SB1137 distress
Kris & Kim for your Short Sale Needs 877-391-2338
IndyMac…what happened?
IndyMac is now owned by the United States Government. We saw the early signs. Indymac Federal Bank.
If your home is in Default..
My husband Kris and I specialize in listing Short Sales. We also work with buyers regularly and would like to share some very valuable information to anyone that may be facing loosing their home. We have been calling on countless listings that are either in default or...
Upside down in your home? A Short Sale may be the answer
A Short Sale may be the answer for you... It's common place to see short sales in our current market. What is a short sale? It's when a bank accepts a lower than owed price for the property and in return releases their stake in the property. Done...not yet! You might...
Need To Sell? No Equity..No Problem. Your lender pay's our commissions
Recently my wife Kim and I (we're both Real Estate Agents) were hired to list a home by the sellers in the eleventh hour of foreclosure. We discussed an offer received with the bank (a steal for the buyer) and the bank agreed to pull the home from the court house...
Another Home Bites the Dust…Foreclosure Casualty
Ever just get the best news and have to share? Short version...Short Sale lost to foreclosure. Months later, back on the market by the same lender now offered for $80,000 less!!! We are usually the listing agents when it comes to working with Short Sales, but not on...
Foreclosures, NOD's, Short Sales…Oh My…!
Notice of Defaults here in the Inland Empire are climbing daily, homes, just waiting to take their place with the other foreclosures in our neighborhoods. But wait, the banks don't want to own anymore real estate and the "cats out of the...