|HOME VALUES GOING UP - CHOICE IS GOING DOWN|
|Al Clark provides this update on Home Values and what is it it for YOU!!|
Read and believe!!!!!
Topic Summary: Recent statistics indicate that Home Values are up about 10% year over year and up 1.9% just in the February to March time-frame. (Stats Here)
Houses on the market are and commanding multiple offers, many times for more than the asking price. Real Estate Professionals are having problems keeping up with demand, due to less inventory to show buyers. Homes are also selling fast. The median time on market for all homes was 46 days in April, down from 62 days in March and 83 days a year ago. As one example of overall log term price appreciation, homes in the Washington, D.C. area appreciated 300% in the last 20 years.
So What's In This For Me?
As homeowners, we probably have a feel for what our homes may fetch on the open market but do we really know? Even if we are not thinking about selling our homes, are we aware of the equity we have built? What's the impact on a retirement strategy? What about college tuition? Sure, many parts of the country have homes "underwater", (owning more on the mortgage than the home is worth) but those numbers have been improving too.
Maybe It's Time To Ask!
Online services are available to provide you home values but greatly vary in their results, providing you a "range" of possible values. No computer has the experience and the "feet on the ground" knowledge that your real estate professional does. See that "Email" Link over on the left side? Use it to send a request to your HomeActions provider and just ask them to do a CMA. (Comparative Market Analysis) CMA is the term real estate agents use when they conduct an in-depth analysis of a home's worth in today's market. Then once all the facts are uncovered, a credible market based value can be given to you.