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.

What’s Your Home Worth?

Search for Your New Home

22601 W Mohawk Lane Surprise, AZ 85387

$461,410
4 Beds
3 Baths
2,284 SqFt
Status Active
MLS # 6693500
Property Type Single Family Residence
Price Type --
Introducing the latest addition to Surprise, is Frontera in Mesquite Mountain Ranch. Available now is this new detached single-level home, situated on a corner next to a park, this charming one-story residence features four bedrooms, two and a half bathrooms, and a two-car garage. Boasting front yard landscaping, granite countertops, a generously sized kitchen island with a single bowl sink, tile flooring, stainless steel appliances, and a gas range, this home is designed for modern living. It also comes equipped with a smart home package, a gas tankless hot water heater, and Deako smart light switches for added convenience. Residents of Frontera, will have access to an array of community amenities, including hiking and biking trails, pickleball and basketball courts and play areas.

1266 W Sparrow Drive Queen Creek, AZ 85140

$461,173
3 Beds
2.5 Baths
1,967 SqFt
Status Active
MLS # 6681587
Property Type Single Family Residence
Price Type --
North Creek Community will have you feel like your on vacation all year long. Community amenities include a resort style pool, 2 pickle ball courts, full court basketball, bocce ball, corn hole, fire pits, grilling area, tot lot, walking trails and so much more!! This 3 bedroom 2.5 bath home is great to entertain family and friends. Updgrade features include upgraded white knight granite, gas range, Matt black fixtures, upgraded flooring. Hurry this home is beautiful.

19625 W Cambridge Avenue Buckeye, AZ 85396

$460,995
4 Beds
3 Baths
2,070 SqFt
Status Active
MLS # 6676007
Property Type Single Family Residence
Price Type --
Explore this exciting Slate home, ready for quick move-in! Included features: a covered entry; an inviting kitchen boasting 42'' upper cabinets, quartz countertops, stainless-steel appliances and a center island; a relaxing great room and adjacent nook; an inspired primary suite showcasing a large walk-in closet and a private bath with double sinks; two secondary bedrooms with a shared bath; a central laundry; a fourth bedroom with an attached bath; a charming covered patio and a 2-car garage. This home also offers 7'' x 22'' stone tile flooring, cultured marble bath countertops, additional windows and ceiling fan prewiring in select rooms, coach lights, front yard landscaping and concrete pavers at the driveway and walkway.

41108 W Haley Drive Maricopa, AZ 85138

$460,990
4 Beds
3 Baths
2,142 SqFt
Status Active
MLS # 6632233
Property Type Single Family Residence
Price Type --
READY FOR MOVE-IN... This home has 4 bedrooms with a flex space to be used as den or a formal space. We added a shower in the powder room for a total of 3 full baths. Large walk in shower at owner's bath with dual vanity sinks. Stainless steel gas range. Benton ''White'' Birch cabinets throughout the home with 42'' kitchen uppers and roll outs at pantry. AZT Della Terra Quartz countertops in the owner's bath and at the kitchen and on the enhanced kitchen island. Tile backsplash in the kitchen has Colorwheel 4x16 tile. Upgrade flooring includes level 9 carpet in bedrooms/closets and the remaining of the home has DT Cannes Masso 18x18 tile in the great room, kitchen, entry, halls, bathrooms and laundry and so much more.

Leave a Reply

Your email address will not be published.