Homeownership remains a big part of the American Dream,
providing families with a place that's their own and the opportunity to create financial stability over time.
According to a September report by CoreLogic, today's average homeowner gained over $16,000 in equity between the second quarter of 2017 and the second quarter of 2018.
Home equity increased in virtually all states, with the West reaping the largest gains
The Western states have shown strong gains in equity this past year. What can you expect?
equity has nearly doubled in five years, increasing by $3.9 trillion from Q2 2013 to Q2 2018.
The nationwide negative equity share for Q2 2018 was 4.3 percent of all homes with a mortgage, more than 20 percentage points lower than the peak negative equity share – 26 percent – recorded in Q4 2009.Over the past 12 months, 570,000 borrowers moved into positive equity.
Let's Talk: Just how is this financial stability realized and what can be expected?
In total, the nation saw an aggregate gain in equity of nearly $1 billion. This gain has nearly doubled over the past five years.
These year-over-year numbers are strong, but it's important to note that some markets appreciate faster than others – such as California and Washington – and there are no guarantees with home price gains. It's also possible for home values to depreciate due to local area economic conditions that cause a decline in your home's value and/or an increase in mortgage debt. Today, 4.3% of today's homeowners have negative equity, a 21% decrease over this past year.
Buying or Selling doesn’t have to be a huge undertaking, but it’s one where details really matter. When you’re working with real estate professional Carriene Porter of Precision Realty & Associates, you’re guaranteed to get the expertise and advice you need to Sell or Buy your home.
Not quite ready to buy a home? You may qualify for the Lease with a Right to Purchase program. Call me and I'll give you the details on how you may qualify to get into the home you want, get settled and then purchase it when you are ready! If you prefer a more personal touch, CALL 801-809-9866 today.
#Mortgage #LeasePurchase #UtahRealEstate
According to a September report by CoreLogic, today's average homeowner gained over $16,000 in equity between the second quarter of 2017 and the second quarter of 2018.
Home equity increased in virtually all states, with the West reaping the largest gains
The Western states have shown strong gains in equity this past year. What can you expect?
- National share of homes with negative equity for Q2 2018 was 4.3 percent.
- 570,000 borrowers moved into positive equity from Q2 2017 to Q2 2018.
- Nevada saw the largest improvement in the negative equity share over the past year, falling 4.9 percentage points.
equity has nearly doubled in five years, increasing by $3.9 trillion from Q2 2013 to Q2 2018.The nationwide negative equity share for Q2 2018 was 4.3 percent of all homes with a mortgage, more than 20 percentage points lower than the peak negative equity share – 26 percent – recorded in Q4 2009.Over the past 12 months, 570,000 borrowers moved into positive equity.
Let's Talk: Just how is this financial stability realized and what can be expected?
As a homeowner, you'll have the opportunity create financial stability by building up equity over the years – a critical part of homeownership. You'll do this by paying down your mortgage (through your monthly mortgage payment) and your home's appreciation over the years.
In total, the nation saw an aggregate gain in equity of nearly $1 billion. This gain has nearly doubled over the past five years.
These year-over-year numbers are strong, but it's important to note that some markets appreciate faster than others – such as California and Washington – and there are no guarantees with home price gains. It's also possible for home values to depreciate due to local area economic conditions that cause a decline in your home's value and/or an increase in mortgage debt. Today, 4.3% of today's homeowners have negative equity, a 21% decrease over this past year.
Buying or Selling doesn’t have to be a huge undertaking, but it’s one where details really matter. When you’re working with real estate professional Carriene Porter of Precision Realty & Associates, you’re guaranteed to get the expertise and advice you need to Sell or Buy your home.
Not quite ready to buy a home? You may qualify for the Lease with a Right to Purchase program. Call me and I'll give you the details on how you may qualify to get into the home you want, get settled and then purchase it when you are ready! If you prefer a more personal touch, CALL 801-809-9866 today.
#Mortgage #LeasePurchase #UtahRealEstate
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