Where are You Sitting??
Has your equity position in your home improved???
For the most part, in many parts of the country, the huge losses in home equity have been erased in the past three years as the housing environment improved.
Buyers have been out, investors and home owners. In Hampton Roads and other markets, the lower price ranges now are having multiple bids on some homes. For this market, homes even up to $400,000 are selling quickly.
It appears that this trend of "normal market" will expand to the $500,000 price range in 2015.
What does this have to do with home equity??
As demand outstrips supply, values of widgets or homes goes UP!!!
Thus, with buyer confidence and improving financial markets have encouraged town home and apartment dwellers to purchase a first or second home, we have the sellers of those homes pushed to purchase a new place. And so it repeats through the various price strata.
Thus, this new analysis of home equity is not surpising. Only about 10% of home owners are now under water with their mortgage.
Imagine it! Perhaps you are not where you once were!
It could be very likely it is time to make that move you been holding off on, fearing your equity situation.