Do you know your home’s value?

      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 report released included this headline, “National Home Prices Now 50% Above March 2011 Bottom”
    What is great for homeowners is the real estate market has come a long way since 2011!
    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. However, not every homeowner knows how much their home’s value has appreciated.
    Denver, CO homeowners lead the way with 8.7% appreciation over the last year, while Washington and Utah homeowners 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, explained the importance of knowing your market and 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.”
    What is most important to understand is this.
    Do you know what your house is worth? Have you stayed in your same home because you do not know if you will have enough equity to buy your dream home?  Call me and I can put an equity analysis together and give you the information you need and the freedom to make your dreams come true.

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