Unlocking Your Home's Hidden Value: The Power of Rising Equity
As a homeowner, you might be sitting on a goldmine without even realizing it. Over the past year, home prices have been on the rise, significantly boosting your property's equity. But what does this mean for you?
Equity Explained
Simply put, equity is the difference between your home's current market value and what you still owe on your mortgage. With the recent surge in demand outpacing available homes for sale, prices have climbed, directly translating into increased equity for homeowners like you.
The Numbers Don't Lie
According to CoreLogic's latest Homeowner Equity Insights, the average homeowner has gained a whopping $28,000 in equity in just the last year. That's not small change!
Long-Term Growth
If you purchased your home before the pandemic, the news is even better. Realtor.com reports a staggering 37.5% increase in home prices from May 2019 to May 2024. As Selma Hepp, Chief Economist at CoreLogic, points out, the typical homeowner now has close to $305,000 in total equity.
Putting Your Equity to Work
This substantial increase in home equity isn't just a number on paper – it's a valuable asset that can open doors for you. Whether you're dreaming of starting a business, funding education, or moving to a new home, your equity can be the key to making it happen.
Ready to Explore Your Options?
Don't let your home's hidden value remain untapped. The real estate experts at the Justin Landis Group are here to help you understand and leverage your home's equity. Our experienced team can provide a detailed analysis of your property's current value and guide you through the best ways to utilize your equity.
Take the first step towards unlocking your home's full potential. Contact the Justin Landis Group today for a personalized consultation. Let us help you turn your home's rising value into exciting new opportunities.
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