A recent article from a reputable news source was titled:Here’s why some homeowners still can’t sell. In the opening bullets of the article, the author claimed,“Negative equity is one of the main reasons why there are so few homes for sale.”The article then goes on to soften that stance but we want to bring better clarity to the equity situation.
A recentreportfromCoreLogic(which was quoted in the article) revealed that over 80% of all homes now have “significant equity,” which means the home has over 20% equity. That level of equity allows the homeowner to sell their home if they so desire. (There was no reference to significant equity in the article.)
If eight out of ten homeowners now have significant equity in their homes, it is hard to make the claim that lack of equity is“one of the main reasons why there are so few homes for sale.”
Here is a map showing the percentage of homes in each state which currently have significant equity:
If you are one of many homeowners who is debating selling your home and are wondering how much equity you have accumulated, let’s get together to determine if now is the time to list.
Author:Wanda Jones Phone: 972-569-7154 Dated: October 6th 2017 Views: 341 About Wanda: ...
Holding a BA from New York University and an MBA from Fordham University, Dana is an accomplished businesswoman. Dana’s approach is both direct and successful due to her ability to listen to her clients and find the perfect match based on their needs. Focusing on honest and efficient transactions, Dana believes in creating positive experiences to build long lasting personal relationships with her clients. By using her extensive business background, combined with her passion and drive to help those around her, this combination of work ethic and personal drive has made her one the of the most honest and charismatic real estate agents in the area.