Over the next five years, home prices are expected to appreciate on average by 3.35% per year and to grow by 24.34% 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 purchases and closes on a $250,000 home this month (January). If we only look at the projected increase in the price of that home, how much equity will they earn over the next 5 years?
Since the experts predict that home prices will increase by 4.2% in 2018, the young homeowners will have gained $10,500 in equity in just one year.
Over a five-year period, their equity will increase by nearly $45,000! 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.
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!
For any questions at all, feel free to contact us directly at 385-355-2130.
If you are looking to buy a new home, it’s no secret, getting your offer accepted in today’s hyper competitive real estate market is no simple task. Inventory is low in most areas of the country and the competition for the best homes in the best neighborhoods is fierce. Most buyers you will be competing against (and their Realtors) only know one way to compete, which of course is with price. But like any game, there are rookie tactics and there are insider expert tactics for getting the job done.
Josh Mettle has written an article 7 tactics to get your offer accepted and pay less.
These are the tactics we are seeing top Realtors from across the country employ in order to consistently get their clients the home they really want.
Read the full article here: http://fairwayut.com/2017/11/06/7insiders-tactics-how-to-pay-less-still-get-your-offer-accepted/