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Is A Bigger House Within Your Budget
December 16, 2019 at 10:39am | Mac Rogers
this time of year, many families come together to celebrate the season. It’s also the time when many realize their homes are just not quite big enough to host all of their guests and loved ones. Are you one of those homeowners dreaming for a larger space
to call home?
Hi I'm Mac Rogers with Albert Rogers Realty. You may have enough equity in your current home to move up.
According to the Q3 2019 U.S. Home Equity & Underwater Report by ATTOM Data Solutions, “14.4 million residential properties in the United States were considered equity rich, meaning that the combined estimated amount of loans secured by those properties
was 50 percent or less of their estimated market value.” This means that one in four of the 54 million mortgaged homes in the U.S. have at least 50% equity. If these homeowners decide to sell, they can use their equity to put toward the purchase of a
new home. Maybe you’ll be one of them.
According to the National Association of Realtors recently released their 2019 Profile of Home Buyers and Sellers showing that, “This year, home sellers cited that they sold their homes for a median of $60,000 more than they purchased it, up from $55,500
the year prior. This accounted for a 31 percent price gain, up from 29 percent the year before.” Here’s the equity gain breakdown based on the number of years these sellers lived in their homes:
Bottom Line If you’re one of the many homeowners with big dreams of owning a larger home, contact us today to find out how much equity you have is a great step toward putting your move-up plan in motion. I'm Mac with Albert Rogers Realty. I will see you
at my next open house.