Holding an open house is a terrific way to increase buyer traffic for the home you are selling. If your real estate agent has suggested marketing your home through an open house, be sure to share
Building Your Familys Wealth Over The Next 5 Yeas
Over the next five years, home prices are expected to appreciate 3.24% per year on average and to grow by 21.4% 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 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?
Since the experts predict that home prices will increase by 4.0% this year alone, the young homeowners will have gained over $10,000 in equity in just one year.
Over a five-year period, their equity will increase by over $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.
Additionally, folks who become homeowners today, lock in interest rates from today, they lock in the cost of a mortgage today, and stop playing the “how much will my rent go up” game. Purchasing a home is a hedge against inflation.
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, let’s get together to find out if you are able to, today!
Vivienne Andersen, a full-time REALTOR®, grew up in California, but is not at all what the Beach Boys had in mind. She has a Masters of Divinity degree to compliment her Bachelors in Psychology. Sh....
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The price of any item is determined by the supply of that item, as well as the market demand. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their