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3 Ways Home Equity Can Have a Major Impact on Your Life

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  3 Ways Home Equity Can Have a Major Impact on Your Life There have been a lot of headlines reporting on how homeowner equity (the difference between the current market value of your home and the amount you owe on your mortgage) has dramatically increased over the past few years.  CoreLogic  indicated that equity increased for the average homeowner by  $17,000  in the last year alone.  ATTOM Data Solutions , in their latest  U.S. Home Equity Report , revealed that 30.2% of the 59 million  mortgaged homes  in the United States have at least 50% equity. That doesn’t even include the  38% of homes  that are owned free and clear, meaning they don’t have a mortgage at all. How can equity help a household? Having equity in your home can dramatically impact your life. Equity is like a savings account you can tap into when you need cash. Like any other savings, you should be sensible in how you use it, though. Here are three good reasons t...
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Calm Down! The Real Estate Market is NOT Falling Apart

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Calm Down! The Real Estate Market is NOT Falling Apart There has been tremendous volatility in certain markets over the last few weeks  (for example, the stock and currency markets) . When this happens, some tend to lump all of their investments together and create an almost ‘Armageddon’ scenario where everything loses value quickly and dramatically. Real estate is an investment that can get caught up in this hysteria. Does the concern about the current housing market have merit? Financial advisors have been warning us for months that the stock market was ripe for a  “correction.” Experts have been questioning the value of alternative currencies for over a year. In contrast, here are the opinions of three major players in the residential housing market: Ralph DeFranco,  Chief Economist, Arch Capital Services Inc. “It’s premature to worry about a housing bubble. The typical warning signs – excessive debt levels, poor quality loans, exponentially increas...
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How Trusted Professionals Make Homebuying Easier to Understand

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How Trusted Professionals Make Homebuying Easier to Understand In the spring, many excited buyers get ready to enter the housing market. Others continue dreaming about the homes they’d like to buy. The truth is, many potential buyers continue to dream longer than they need to, simply because they’re confused about the homebuying process. Thankfully, working with a trusted real estate professional can help ease those concerns and make the process to homeownership much easier to understand. A recent  survey  conducted by  Ipson and Freddie Mac  reveals the confidence level of Gen Z and Millennial buyers regarding the homebuying process. The graph below shows the breakdown of the top results, clearly indicating there’s a significant portion of younger buyers who are not yet confident with some of the steps in the homebuying process. Between the  homebuying  process  and the  mortgage process , there are  230  possible steps in the tr...
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