Do You Know Your Homes Value Of Your Home

Dated: September 7 2017

Views: 74

Homeowners: Do You Know Your Home’s Value? | Simplifying The Market


Homeowners: Do You Know Your Home’s Value?


The latest edition of CoreLogic’s Home Price Index shows that nationally, home prices have appreciated 6.7% over the last year and 0.9% month-over-month. The release of the report included this headline, 

“National Home Prices Now 50% Above March 2011 Bottom”

The real estate market has come a long way since 2011, which is great news for homeowners!

Nearly 79% of homeowners with a mortgage in the US now have significant equity in their homes (defined as over 20%), according to the latest Equity Report. The challenge is that not every homeowner knows how much their home’s value has appreciated.

Homeowners in Denver, CO lead the way with 8.7% appreciation over the last year, while owners in Washington and Utah have experienced a 3% increase in values since the start of this year!

Nationally, CoreLogic forecasts that home values will increase another 5.0% by this time next year.

Bill Banfield, VP of Capital Markets at Quicken Loans, recently explained the importance of knowing the conditions in your area,

“With home values constantly changing, and the rates of change varying across the country, this is one more way to show how important it is for homeowners to stay aware of their local housing market.”

Bottom Line

Do you know what your house is worth? Have you stayed put because you are nervous you won’t have enough equity to buy your dream home? Let’s get together to perform an equity analysis and give you the freedom to achieve your dreams.


Blog author image

Bevia Patrick

Since its inception in 1995, Patrick Team Properties has exemplified a profound commitment to its clients by providing the highest standard of service, integrity and work ethic in the field. Patri....

Latest Blog Posts

More Americans Choose Real Estate As The Best Investment Than Ever Before

For Buyers,Housing Market UpdatesMore Americans Choose Real Estate as the Best Investment Than Ever BeforeAmericans’ opinion on the value of real estate as an investment is climbing. That’s

Read More

Why You Need An Expert To Determine The Right Price For Your House

Why You Need an Expert To Determine the Right Price for Your HouseIf your lifestyle has changed recently and you’re ready to make a move, taking advantage of today’s sellers’ market 

Read More

Maryland Farmers Market Guide 2022

                      Maryland Farmers Market Guide 2022Many farmers markets across Maryland are open for the season. Here are some on PTP's

Read More

Why Summer Is A Great Time To Buy A Vacation Home

Why Summer Is a Great Time To Buy a Vacation HomeYou may be someone who looks forward to summer each year because it gives you an opportunity to rest, unwind, and enjoy more quality time with your

Read More