Another Strong Year Helps Drowning Homeowners

Dated: 01/18/2016

Views: 194

Image title

For the U.S. real estate market, the last decade has been incredibly volatile.

We’ve witnessed a full boom and bust cycle. Prices soared for years, peaking in 2006. However, the price increases were unsustainable, and a bubble formed. When it burst in 2008, the housing market crashed, causing an unprecedented foreclosure crisis.

Since then, the market has made a dramatic recovery. In fact, today’s market is close to being a “normal” market, and for the millions hit hardest by the financial crisis, that is tremendous news.

Last year ended strongly, and strong sales and increasing prices are helping even more homeowners regain equity. According to RealtyTrac, 6.9 million homeowners were seriously underwater (owing at least 25% more than the property is worth) at the end of Q3 2015. That’s down from a peak of around 12.8 in 2012. Nearly half a million of those were lifted from being seriously underwater at the end of last year.[1]

With equity so recovered, many homeowners are taking advantage of their recently gained equity to sell their homes and move-up or move-on from a bad situation. And if you’re thinking of selling, now is a great time.

First, today’s market is still a seller’s market, with demand outpacing inventory in many markets nationwide. This gives you a lot of control as a seller, and it also ensures you can get top dollar for your home.

On the other side of the transaction, mortgage rates remain low, but are expected to increase as the year goes on. That means you’ll be able to afford less home later in the year. So if you’re thinking of selling, start exploring your options to take advantage of these market conditions.


Want to Advertise on this Site?

Latest Blog Posts

Sales Tip Of The Week

Sales Tip of the WeekRenew selectively: Instead of wholesale renovations from which sellers recoup maybe 60 percent on investment, do light makeovers everywhere, with an eye on the kitchen and

Read More

This Nashville Treehouse Will Drench You In Lighthouse Of The Week

With a dreamy bed, upcycled elements and original art, this Music City dwelling elevates tranquil living.Somewhere in East Nashville — at the intersection of windows and woodwork — 

Read More

1312 NE Silkwood Open For You

Open Sunday 1-3 1312 NE SIlkwood Grimes!

Read More



Read More