If you’ve been in your current home for a while, you may be thinking about making a change.
Since the current health crisis has altered our daily lifestyles, many buyers and sellers are reconsidering their situation and thinking about moving to a home with more or less space and to different in-state or out of state locations. Here’s why it might be a great time to make that happen.
Let’s look at the last 10 years. The real estate market has changed in many ways and current homeowners are earning much more equity today than in previous years. According to CoreLogic, in the first quarter of 2020 alone, the average homeowner gained approximately $9,600 in equity. If you’re considering selling your home, you might not realize how much equity you’ve accumulated.
Many homeowners locked in a fairly low mortgage rate 10 years ago. In 2010, the average rate was only 4.09%. This motivated some homeowners to stay in their houses longer than usual to keep their rate low. Rates are even lower now.
As a homeowner, you have a massive opportunity to move up right now. Whether you want to save more each month or get more home for your money based on your distinct needs, it’s a great time. Buyers are actively looking for homes to buy, and there’s not enough demand. You can win big by making a move if the time is right for you.
Please call, text, or email and I can help you understand the real value of your home based on its unique characteristics and location. I can also share with you homes, like yours, which have sold recently.