$\"How$ \n

Building equity in your house is one of the biggest financial advantages of homeownership. And right now, homeowners across the country are sitting on record amounts<\/a> of it.<\/p>\n

Here\u2019s a look at how that equity could be a game changer for you, and why it\u2019ll flip your perspective<\/a> from \u201cWhy would I move right now?<\/em>\u201d to \u201cWhy wouldn\u2019t I?<\/em>\u201d<\/p>\n

Home Equity: What Is It?<\/strong><\/h4>\nHome equity<\/a> is the difference between how much your house is worth and how much you still owe on your mortgage. For example, if your house is valued at $400,000 and you only owe $200,000 on your mortgage, your equity would be $200,000.<\/p>\n
Why Equity Is Such a Big Deal for Homeowners Looking To Sell<\/strong><\/h4>\nRecent data from the\u00a0 Census<\/em><\/a>\u00a0and\u00a0ATTOM<\/em><\/a>\u00a0shows how significant today\u2019s home equity really is. In fact, more than two out of three homeowners have either completely paid off their mortgages (shown in green in the chart below<\/em>) or have at least 50% equity in their homes (shown in blue in the chart below<\/em>):<\/p>\n
$\"a$ <\/a>And that\u2019s a big deal. Think about it: 2 out of 3 homeowners have at least 50% equity in their homes. To put a more tangible number on it so you can think about what that really means for someone like you, CoreLogic<\/em> shows the average homeowner has $311,000<\/a> worth of equity built up. That kind of net worth can go a long way if you\u2019re trying to make a move.<\/p>\n
And that\u2019s part of the reason why the share of all-cash buyers recently reached a new high. According to an annual report<\/a> from the National Association of Realtors<\/em> (NAR), 26% of buyers were able to buy without a mortgage (see graph below<\/em>):<\/p>\n
$\"a$ <\/a>Imagine buying your next house in cash. No mortgage. No monthly payment. No interest rate to mess with. If you want to find out how much\u00a0equity\u00a0you have to see if that\u2019s an option for you, connect with a real estate agent and ask for a professional equity assessment report (PEAR).<\/p>\n
Who knows, you may find out you have enough equity to buy your next place outright\u2013 and with today\u2019s mortgage rates, not having to take out a home loan is pretty incredible. Even if you don\u2019t have enough equity to buy in all cash, you may still have enough to make a larger down payment<\/a>, which has its own benefits too.<\/p>\n
Bottom Line<\/h3>\n
Homeowners have an incredible amount of equity today \u2013 and that\u2019s why the share of all-cash buyers is on the rise. To see how much equity you have and talk through how it can help fuel your next move, connect with an agent.<\/p>\n<\/div>\n\n<\/body>","protected":false},"excerpt":{"rendered":"
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