Hello Lake Norman and Charlotte homeowners? Are you wondering if you have a positive equity on your home? Nowhere else can such a wide range of individuals from many diverse backgrounds and nations succeed by their very own efforts. We’d like to own the biggest house, the largest automobile together with other possessions with less debts. Home equity means the market value of a home minus any mortgage or money because of the property. You owe the bank $225, 000 over the next fifteen years. The home market changes and your market value drops to $200, 000. This is negative equity and occasionally known as being upside down. Now, if you owe $225,000 and you can sell your home for $300,000 you have a positive home equity. We are hoping that Lake Norman and Charlotte home positive equity will stay and everyone will be happy. Give us a call at 704-975-2429 or 704-957-2232 for a free home valuation.
CoreLogic’s latest Equity Report revealed that ninety-one thousand residential properties regained equity in Q1 2017. The outlook for 2017 remains positive as well, as an additional 600 thousand properties will regain equity if home prices rise another 5% this year.
The study also revealed that:
- Roughly 63% of all homeowners have seen their equity increase since Q1 2016
- The average homeowner gained about $14,000 in equity between Q1 2016 and Q1 2017
- Only 1.6% of residential properties are near-negative equity
See the map showing the percentage of homes with a mortgage, in each state, that have positive equity… go to this link. Source: KCM The Ally Group Blog