The Great News About Rising Prices for Homeowners

The Great News About Rising Prices for Homeowners | Simplifying The Market

Recently there has been a lot of talk about home prices and if they are accelerating too quickly. As we mentioned before, in some areas of the country, seller supply (homes for sale) cannot keep up with the number of buyers out looking for a home, which has caused prices to rise.

The great news about rising prices, however, is that according to CoreLogic’s US Economic Outlook, the average American household gained over $11,000 in equity over the course of the last year, largely due to home value increases.

The map below was created using the same report from CoreLogic and shows the average equity gain per mortgaged home from June 2015 to June 2016 (the latest data available).

The Great News About Rising Prices for Homeowners | Simplifying The Market

 

For those who are worried that we are doomed to repeat 2006 all over again, it is important to note that homeowners are investing their new-found equity in their homes and themselves, not in depreciating assets.

The added equity is helping families put their children through college, invest in starting small businesses, allowing them to pay off their mortgage sooner or move up to the home that will better suit their needs now.

Bottom Line

CoreLogic predicts that home prices will appreciate by another 5% by this time next year. If you are a homeowner looking to take advantage of your home equity by moving up to your dream home, let’s get together to discuss your options!  Give me a call – J.P. Cook – 602-320-4253.

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41585 W Coyote Run Maricopa, AZ 85138

$447,590
5 Beds
3 Baths
2,552 SqFt
Status Active
MLS # 6635222
Property Type Single Family Residence
Price Type --
Brand new, energy-efficient home available NOW! Each of the five bedrooms in this floorplan features a spacious walk-in closet. White cabinets and granite countertops, tile flooring with brown carpet in our Distinct package. Enjoy 3-car and RV garages at Copper Ridge located in Maricopa. Your family will enjoy Maricopa's small town feel and local hubs. Plus, all the resources of metro Phoenix are only a short drive away. We also build each home with innovative, energy-efficient features that cut down on utility bills so you can afford to do more living.* Visit Copper Ridge today. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.

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$447,500
4 Beds
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1,457 SqFt
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MLS # 6671871
Property Type Single Family Residence
Price Type --
Newly remodeled home at 2332 W Monte Cristo, Phoenix, AZ, features 4 bedrooms, 2-car garage, and 2 living rooms. Modern upgrades offer style and convenience in a spacious layout. Located in a vibrant Phoenix area, known for excellent schools, shopping, dining, and leisure activities, this property combines comfort with the benefits of city living. Ideal for those seeking a turnkey home in a thriving community.

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$447,500
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Property Type Single Family Residence
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26689 W Burnett Road Buckeye, AZ 85396

$447,500
2 Beds
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MLS # 6655907
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Indulge in unparalleled lifestyle of Sun City Festival 55+ living with this FURNISHED Jamboree Model in Sun City Festival! Nestled on a quiet loop street on an oversized lot, with privacy and serenity. South-facing backyard boasts an extended patio, meticulous landscaping, with the firepit as an inviting centerpiece. Spacious Great Room featuring 18'' tiles and up/down window shades. Tranquil Master bedroom and bath, complete with ceramic flooring and zero-clearance shower floor. Kitchen is a culinary delight with granite counters, upgraded cabinets staggered with lighting, and convenient double pullouts. Enjoy your morning coffee in the wonderful breakfast nook. Extended 27' garage with epoxy floors & cabinets galore, perfect for golf cart parking! Make this exquisite residence your own! Don't miss the opportunity to make this exquisite residence your own and experience the unparalleled lifestyle of Sun City Festival.

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