Homeowners: Do You Know Your Home’s Value?

Posted by Florida Realty Marketplace on Wednesday, September 13th, 2017 at 9:03am.

The latest edition of CoreLogic’s Home Price Index shows that nationally, home prices have appreciated 6.7% over the last year and 0.9% month-over-month. The release of the report included this headline,

“National Home Prices Now 50% Above March 2011 Bottom”

The real estate market has come a long way since 2011, which is great news for homeowners in Davenport FL!

Nearly 79% of homeowners with a mortgage in the US now have significant equity in their homes (defined as over 20%), according to the latest Equity Report. The challenge is that not every homeowner knows how much their home’s value has appreciated.

Homeowners in Denver, CO lead the way with 8.7% appreciation over the last year, while owners in Washington and Utah have experienced a 3% increase in values since the start of this year!

Nationally, CoreLogic forecasts that home values will increase another 5.0% by this time next year.

Bill Banfield, VP of Capital Markets at Quicken Loans, recently explained the importance of knowing the conditions in your area,

“With home values constantly changing, and the rates of change varying across the country, this is one more way to show how important it is for homeowners to stay aware of their local housing market.”

Bottom Line

Do you know what your house is worth? Have you stayed put because you are nervous you won’t have enough equity to buy your dream home? Meet with a local professional who can perform an equity analysis and give you the freedom to achieve your dreams.

Do you own a home in Davenport FL and want to find out the Current Market Value of your Home?

Click Here to Request a FREE No Obligation, Market Valuation for your Home

 
 

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