Charming Home with Enormous Potential. Welcome to this wonderful opportunity to own a property in one of the most coveted neighborhoods! This home offers...
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Charming Home with Enormous Potential. Welcome to this wonderful opportunity to own a property in one of the most coveted neighborhoods! This home offers...
Discover the potential of Broadway St, Vallejo - a 2-bed, 2-bath fixer-upper waiting for your creative touch. This charming cottage invites you to envision...
Welcome to River Oaks Circle! Located in Paradise Valley. This home features 5 bedrooms 3.5 bathrooms. Located on the main level is a bedroom...
Great investment opportunity! Two houses on one lot. The main home features, Kitchen, 2 bedrooms, living room, 1 full bath, laundry room. The back...
Successful & thriving longtime running restaurant Rene's Cafe has been busy serving up Breakfast, Lunch and Dinner for over 26 years!
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Welcome to River Oaks Circle! Located in Paradise Valley. This home features 5 bedrooms 3.5 bathrooms. Located on the main level is a bedroom...
Nice 2 story home! Inside, you will find open living/dining/kitchen spaces with granite counters, a breakfast bar, and a large, double door pantry in...
This house is gorgeous and move in ready. Situated in an established, tree lined street. New roof, new flooring throughout, newly remodeled kitchen, and...
Updated and modernized darling bungalow style home offers 3 bedrooms & 2 baths with a fresh kitchen sporting newer cabinetry, quarts counters and steel...
Highly desirable 55 and older Hampton park subdivision. Located directly across from the club house and pool.
A very comfortable and upgraded home for your comfort and easy living. .. As you step into this home you'll feel right at home...
Well maintained and well established commercial units. Located in a highly visible, high traffic area on 4th Street within the famous Miracle Mile. 2042...
a 178-unit apartment community located at 2010 Pioneer Way in Santa Rosa, California. Pioneer Apartments consists of 100 one-bedroom/one-bath units and 78 two bedroom/one-and-one-half...
The Palms Apartments, a 60-unit apartment community located at 128-170 Santa Alicia Drive in Rohnert Park, California. The Palms Apartments at 128-170 Santa Alicia...
3076 Marlow Rd., Santa Rosa, CA 95403 is for sale by the RE/MAX Elite Partners in Fairfield, CA call 707.580.3499 for more information. Marlow...
Park Lane Villas, a 121-unit Condominium community located at 3751 Sebastopol Rd, Santa Rosa, California. The Park Lane Villas consist of 22 two-bedroom, two-bath units,...
Welcome to Vallejo, California! Introducing a stunning new listing that has just hit the market. This completely updated, charming home offers a wonderful combination...
You will not want to miss this beautiful contemporary townhome! Bright and airy design, nestled among the trees. Enjoy your deck off of the...
Lovely and clean 3 Bed, 2 Bath, single-story gem, located in the heart of charming Benicia. Solar Panel Powered for energy and cost efficiency....
Are you thinking about selling your house? If so, today’s mortgage rates may be making you wonder if that’s the right decision. Some homeowners are reluctant to sell and take on a higher mortgage rate on their next home. If you’re worried about this too, know that even though rates are high right now, so is home equity. Here’s what you need to know.
Bankrate explains exactly what equity is and how it grows:
“Home equity is the portion of your home that you’ve paid off and own outright. It’s the difference between what the home is worth and how much is still owed on your mortgage. As your home’s value increases over the long term and you pay down the principal on the mortgage, your equity stake grows.”
In other words, equity is how much your home is worth now, minus what you still owe on your home loan.
Recently, your equity has been growing faster than you might think. To help contextualize just how much the average homeowner has, CoreLogic says:
“. . . the average U.S. homeowner now has about $290,000 in equity.”
That’s because, over the past few years, home prices went up significantly – and those rising prices helped your equity to accumulate faster than usual. While the market has started to normalize, there are still more people wanting to buy homes than there are homes available for sale. This high demand is causing home prices to go up again.
According to the Federal Housing Finance Agency (FHFA), the Census, and ATTOM, a property data provider, nearly two-thirds (68.7%) of homeowners have either fully paid off their mortgages or have at least 50% equity (see chart below):
That means nearly 70% of homeowners have a tremendous amount of equity right now.
With today’s affordability challenges, your equity can make a big difference when you decide to move. After you sell your house, you can use the equity you’ve built up in your home to help you buy your next one. Here’s how:
“These all-cash home buyers are happily avoiding the higher mortgage interest rates . . .”
“Increasing your down payment lowers your principal loan amount and, consequently, your loan-to-value ratio, which could lead to a lower interest rate offer from your lender.”
If you’re thinking about moving, the equity you’ve built up can make a big difference, especially today. To find out how much equity you’ve got in your current house and how you can use it for your next home, let’s connect.
🏡 Selling your home? You may also be wondering, once you sell, how does the current supply impact your own move?
📈 Thinking of buying or selling a house and wondering how the new year holds for the housing market? Here's what the experts say.
🏡 Are you dreaming of buying your own home and wondering about how you’ll save for a down payment? You're not alone. Some people think about tapping into their 401(k) savings to make it happen.
🏡 As the year winds down, you may have decided it's time to make a move and put your house on the market. But should you sell now or wait until January?
🏡 The idea of owning a home has always been a big part of the American Dream. It's a symbol of stability, independence, and having a place to truly call your own.
🎃 As a responsible homeowner, making your property safe for young trick-or-treaters is essential. Everyone wants an accident-free Halloween in the neighborhood, so these few tips will ensure the local kids have a scary and super-fun night.
📈 Mortgage rates have been back on the rise recently and that’s getting a lot of attention from the press. If you’ve been following the headlines, you may have even seen rates recently reached their highest level in over...
📊 Mortgage rates may be making you wonder if selling is the right decision. Here’s what you need to know about how home equity can help.
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