Off to the Equity races: Why You’re Winning If You’re a Homeowner

Dated: January 27 2020

Views: 763

Home prices are rising and today’s mortgage holders are reaping the rewards. A reward of nearly $457 billion collectively, to be exact.

According to Corelogic’s 2019 3rd Quarter Homeowner Equity Insights Report:  

“U.S. homeowners with mortgages have seen their equity increase by a total of nearly $457 billion since the third quarter 2018, an increase of 5.1%, year over year.”  

Here is the map showing equity gain state by state:

Following the housing market crash in 2008, many homeowners found themselves stuck as their property values dropped below the outstanding mortgage debt they held. With the turnaround of the housing market, CoreLogic reports that the average homeowner gain in equity was $5,300 over the last twelve months. Here in Florida, it’s $8,000. Home equity is determined by comparing the market value of your home against the money you have borrowed to purchase the property. In other words, home equity is the portion of your property that you “truly own.” If you are curious about your home’s equity, visit https://www.curriproperties.com/sell.php for a free market analysis on the current value of your home. You’re likely sitting on a sum of cash.

 

Latest Blog Posts

Finding An Investment Property In Brevard County: 3 Things Real Estate Investors Need To Know

Investors across the U.S. are snapping up property in Brevard County. With the area showing consistent economic growth, a thriving commerce industry, and world-class attractions, it's easy to see

Read More

What Is A Financing Contingency? Everything Brevard County Sellers Need To Know

At Realty World Curri Properties, we have seen just about every type of contingency that buyers and sellers can write into a contract. Financing contingencies are extremely common in real estate

Read More

"As-Is" Versus Standard Real Estate Contract: What Brevard County Homeowners Need To Know

In Florida, there are two main residential purchase contracts that buyers and sellers typically use:FAR/BAR "As-Is" Contract for Sale and PurchaseFAR/BAR Residential Contract for Sale and Purchase

Read More

Closing Costs in Florida: What Sellers Need To Know

Closing costs for sellers; let's face it — they exist and impact your bottom line. As a home seller, you need to know the costs of selling your home, and it's crucial to factor closing costs

Read More