Gaithersburg - Lakelands MD | 93.9% Of Homes in The US Have Positive Equity
Gaithersburg Lakelands MD Local Market Tidbits:
Today I decided to bring you some news about the things that matters the most to our local real estate market
As you are aware, the real estate market is like the weather. The economic conditions within the area are the most influential on home prices and its stability.
Sometimes even within neighboring counties, our local real estate market could be completely different.
For that reason we are focusing in Lakelands Gaithersburg. In a way this beautiful neighborhood area in Gaithersburg suffers an identity crisis because of its most popular neighbor “The Kentlands”
Yes, you may see disparities between these two neighborhoods but, most homeowners living on Lakelands are just happier that they don't get the negatives of being the most popular neighborhood in the area. Traffic can be a problem for the most part..while the Lakelands remain relatively quiet and serene..yet they still enjoy the same amenities.
Today, I would like to speak to you about 93.9% Of Homes in The US Have Positive Equity
CoreLogic’s latest Equity Report revealed that ninety-one thousand residential properties regained equity in Q1 2017. The outlook for 2017 remains positive as well, as an additional 600 thousand properties will regain equity if home prices rise another 5% this year.
The study also revealed that:
* Roughly 63% of all homeowners have seen their equity increase since Q1 2016
* The average homeowner gained about $14,000 in equity between Q1 2016 and Q1 2017
* Only 1.6% of residential properties are near-negative equity
Below is a map showing the percentage of homes with a mortgage, in each state, that have positive equity. (The states in gray have insufficient data to report.)
Significant Equity Is On The Rise
Frank Martell, President & CEO of CoreLogic, believes this is great news for the “long-term health of the U.S. economy.” He went on to say:
“Homeowner equity increased by $766 billion over the last year, the largest increase since Q2 2014. The rising cushion of home equity is one of the main drivers of improved mortgage performance. Since home equity is the largest source of homeowner wealth, the increase in home equity also supports consumer balance sheets, spending and the broader economy.”
Of the 93.9% of homeowners with positive equity in the US, 78.8% have significant equity (defined as more than 20%). This means that nearly three out of four homeowners with a mortgage could use the equity in their current home to purchase a new home, now.
The map below shows the percentage of homes with a mortgage, in each state, that have significant equity. (The states in gray have insufficient data to report.)
If you are one of the many homeowners who are unsure of how much equity they have in their homes and are curious about their ability to move, let’s meet up to evaluate your situation.
We are interested in creating repeat business with all our clients.
We understand that we can only do that by bringing you the latest news and information that could affect your financial world when it comes to real estate.
We take pride in assuming that role for you
To reach us, please call 301-246-0001
or send us an email info@ReallyNiceHomes.com
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Thinking of selling your home on the Lakelands or anywhere in Gaithersburg? Let Fernando take over the marketing of your property with our unique 99 STEPS system
www.99SOLD.com - Call or text 240-426-5754 for more information.