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5,300 Reasons to Be Happy You’re a Homeowner

5,300 Reasons to Be Happy You’re a Homeowner

5,300 Reasons to Be Happy You’re a Homeowner | MyKCM

Studies have shown that, in many cases, the largest asset a family owns is the house they live in. Over the last twelve months, that asset has gained substantial value.

CoreLogic just released their 2019 3rd Quarter Homeowner Equity Insights Report. The report revealed that:

“U.S. homeowners with mortgages (roughly 64% of all properties) 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.”

The equity in a property is determined by comparing the current value of the property against the outstanding mortgage debt. As prices rise, the equity in a home increases.

The report went on to explain that the average homeowner gain in equity over the last twelve months was $5,300.

Here’s a map showing the average equity gain by state:5,300 Reasons to Be Happy You’re a Homeowner | MyKCMSince the housing crash in 2008, many homeowners have felt trapped in their current houses, as they didn’t have enough equity to sell. The gains in equity over the past few years may have freed some homeowners who have a desire to move.

Bottom Line

If you’re curious about your home’s equity, let’s get together to do a market analysis on the current value of your house. You may be pleasantly surprised.

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Barbara Michaluk, Realtor

Phone 240-506-2434

Email: michaluk@verizon.net  /  Web: BarbaraSellsMDhomes.com

Authorized Leisure World Specialist / Senior Real Estate Specialist /
Internet Marketing Specialist / Certified E-Pro / Certified Staging Agent

Weichert Realtors / 3816 International Dr / Silver Spring, MD 20906

Authorized Leisure World Specialist     Barbara Michaluk Graduate Internet Marketing Specialist Barbara Michaluk Senior Real Estate Specialist   

Comment balloon 3 commentsBarbara Michaluk • December 19 2019 01:41PM

Comments

Hi Barbara, we are on the same wave length.  We just posted the same article.  Sorry, for the repeat.  

Posted by Rick Frissell, aka "The Red Baron of Real Estate" (HomeXpress Realty) about 1 month ago

Good morning, Barbara Michaluk that's a good figure to gain in equity....there are homeowners in my area who gained triple that in one year....

Posted by Barbara Todaro, Marketing Agent for The Todaro Team (RE/MAX Executive Realty ) about 1 month ago

This is an excellent report to share with prospective home buyers.

Happy Holidays!

Posted by Roy Kelley (Realty Group Referrals) about 1 month ago

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