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Homeowners Unaware of Recent, Higher Value

February 22, 2016

 

In a recent study, most homeowners were unaware of the recent rise in their home's value.  Given the approximately 10% national rise in home values over the past 3 years, 80% of the homeowners polled thought their home had appreciated only about 1-5%.

 

Here in Las Vegas our homes have appreciated approximately 8% annually over the last 6 months.  Our median price home is currently at $220,000.

 

Price appreciation is a comforting thought to a homeowner knowing that his investment has increased.  Price appreciation increases the equity in the property.  Given the proper loan formula, this equity can be borrowed, normally in the form of a home equity loan.  Talk to your lender if you have an interest in borrowing against your equity.

 

 

 

Read more:

 

http://www.cnbc.com/2016/02/22/owners-clueless-about-home-equity-study.html

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