
How Much Equity Do You Have In Your Home? You Will Be Surprised!
How Much Equity Do You Have In Your Home? You Will 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.”
Price Appreciation = Good News for Homeowners
Frank Nothaft, CoreLogic’s Chief Economist, explains:
“Home-price growth has been the primary driver of home-equity wealth creation. The CoreLogic Home Price Index grew 6.2 percent during 2017. The largest calendar-year increase since 2013. Likewise, the average growth in home equity was more than $15,000 during 2017, the most in four years.”
He also believes this is a great sign for the market in 2018, saying:
“Because wealth gains spur additional consumer purchases, the rise in home-equity wealth during 2017 should add more than $50 billion to U.S. consumption spending over the next two to three years.”
This is great news for homeowners! But, do they realize that their equity position has changed?
A study by Fannie Mae suggests that many homeowners are not aware that they have regained equity in their homes as their 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).
How Much Equity Do You Have In Your Home? You Will Be Surprised!
The study also revealed that only 37% of Americans believe that they have “significant equity” (greater than 20%) when in actuality, 83% do!

Perceived Equity In Homeownership
This means that 46% of Americans with a mortgage fail to realize the opportune situation they are in. With a sizeable equity position, many homeowners could easily move into a house (either larger or smaller) that better meets their current needs.
Fannie Mae spoke out on this issue in their report:
“Homeowners who underestimate their homes’ values not only underestimate their home equity, they also likely underestimate 1) how large a down payment they could make with their home equity, 2) their chances of qualifying for mortgages, and, therefore, 3) their opportunities for selling their current homes and for buying different homes.”
Bottom Line
If you are one of the many Americans who is unsure of 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 2018! Let’s get together to evaluate your situation!
Call Us Now To Sell Your Home…
Office: 909.985.9392 or Text Us: 714.657.6634
There’s More to a Bubble Than Rising Home Prices
What truly causes a housing bubble and the inevitable crash? For the best explanation, let’s go to a person who correctly called the last housing bubble – a year before it happened. “A bubble requires both overvaluation based on fundamentals and speculation. It is...
Want to Buy a New Home? Find New Home Builds in Los Angeles
Want to Buy a New Home? Find New Home Builds in Los Angeles, Orange, San Bernardino and Riverside Counties. The most up to date info in one search.
What If I Wait Until Next Year to Buy a Home?
As a seller, you will likely be most concerned about ‘short-term price’ – where home values are headed over the next six months. As a buyer, however, you must not be concerned about price, but instead about the ‘long-term cost’ of the home.
How Much More Equity In Your Home Over the Last Year?
Lower-priced homes have appreciated at greater rates than homes at the upper ends of the spectrum due to demand from first-time home buyers and baby boomers looking to downsize.
712,000 US Homes Moved Into Positive Equity in 2017
The average homeowner gained approximately $14,900 in equity during the past year. Compared to Q3 2016, negative equity decreased 22% from 3.2 million homes, or 6.3% of all mortgaged properties. U.S. homeowners with mortgages (roughly 63% of all homeowners) have seen their equity increase by a total of $870.6 billion since Q3 2016, an increase of 11.8%, year-over-year.
First Step To Buying A Home Is Getting Pre Approved
One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search.
The Cartier Experience
California Homes Days on Market Drops below 30 in October 2017
The National Association of REALTORS® surveyed their members for their Confidence Index.
Charts Don’t Lie About Housing Affordability
There’s a lot of discussion about the current state of housing affordability for both first-time and move-up buyers. Much of the narrative is tarnished with a negative slant.
Historically Speaking, There’s No Housing Bubble Coming Soon!
Historically Speaking, There’s No Housing Bubble! Let’s break this down. From 1975 to 1990, home values trended at standard 5% annual growth. In 1990, when the US entered into a recession, new construction prices fell.
Low Housing Inventory Results in Double Digit Price Increases
Low Housing Inventory Results in Double Digit Price Increases. If you are a first-time buyer or a seller thinking of moving up, waiting probably doesn’t make sense.
Buying A Home Or Renting, You’re Paying Someones Mortgage
As an owner, your mortgage payment is a form of ‘forced savings’. This allows you to build equity in your home. You can tap into this equity later in life if you choose. As a renter, you guarantee the landlord is the person with that equity.
Cooling Down and Home Buyers are Heating Up…Time To Sell
Each year, most homeowners wait until the spring to sell their houses because they believe that they can get a better deal during the normal spring buyer’s
1st Step To Buying a Home… Know Your Credit Score
Make sure all the information listed on your report is accurate and work to correct any mistakes.
Lack of Home Inventory Makes Now… Best Time To Sell
The inventory of homes for sale has fallen year-over-year for the last 28 months and has had an upward impact on home prices.
First Time Homebuyers Flocking to Our Down Payment Assistance Program
We’re sharing some very exciting news today for First Time Homebuyers! New California State Programs are making homeownership a reality for first time homebuyers. Owned a home in the past?
Buying A Home Costs Significantly Less Than Renting
Every market is different. Before you renew your lease again, find out if you can put your housing costs to work by buying this year!
How Natural Disasters and Low Inventory Impact Selling Your Home Today
That headline might be a little aggressive; however, as August 2017’s housing market data begins to roll in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME TODAY!