Almaden Valley Homes For Sale | Do You Know How Much Your Home Has Increased in Value?
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Today I would like to speak to you about Do You Know How Much Your Home Has Increased in Value?
Last year we saw headlines about a possible housing market bubble, and many wondered if Americans still felt confident about the value of their homes. Recently, the 2018 Houzz & Home Study revealed:
“Homeowners with mortgages have seen their home equity more than double since 2011, increasing to a record-setting $8.3 trillion in 2017.”
The average homeowner gained $16,200 in home equity between Q2 2017 and Q2 2018 according to the latest release of CoreLogic’s Home Equity Report.
Since 2011 home values have increased significantly throughout the country, with prices rising by 5.1% in 2018 alone. When surveyed, homeowners revealed the top four reasons why they felt their homes had increased in value.
1.- Desirable Location
2.- Improved National Economy
3.- Improved Local Economy
4.- Low Home Inventory in My Area
As we can see, not only does the data show that the homes have appreciated, but homeowners also believe they know why. Many have taken advantage of the opportunity to use their newly found equity to sell their current house and move up to their dream home!
2019 will be a good year for the homeowners that still want to take advantage of their home equity! CoreLogic forecasts that home prices will increase by 4.8% by the end of the year.
If you are a homeowner who would like to find out your current home value, let’s get together to discuss the hidden opportunities in your home!
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“The real estate market is constantly changing. I would like the opportunity to show you some of the new ways in which you are able to buy, sell and search for new homes”.
We continually invest in the latest technology to give you the most up to date information on homes for sale and the most exposure for your property when selling.
Give us a call at 408–741–9300 before buying or selling your next home.
Don Orason, Owner — Silicon Valley Real Estate Team