Homeowners Upbeat That Equity Rise Will Continue

Dated: 02/22/2018

Views: 123

Image title

To put it simply, homeowners are amped about their home equity. More than 80 percent of 1,000 homeowners polled believe their home's value will continue to rise for the next 3 years. Some even believe that over the next 5 years they will continue to see an increase. With this, many owners are turning to home equity loans in an effort to make their homes more valuable. Fifty-two percent of homeowners reportedly used their home equity loans for home improvements believing that it would further increase their home value.

We do, however, expect to see a drop in home equity loans in the coming months as the government rid the interest deduction. This won't be immediate considering only 4 percent of those homeowners surveyed knew about the removal of home equity interest from their tax deductions. Nonetheless, the broad consensus is that homeowners are feeling happy and optimistic about their home value and view their home equity as an investment for retirement.

Source: http://realtormag.realtor.org/daily-news/2018/02/07/owners-upbeat-equity-rises-will-continue

Blog author image

Kurt Galitski DRE#01348644

Distinctive Strategies that Deliver Record-Setting Results When you combine Kurt’s passion and knowledge of the real estate market, you really gain an appreciation for what makes Kurt different. Bu....

Latest Blog Posts

ADUs May Be Cheaper And Easier To Build Under New Bills

Several bills sitting on Governor Gavin Newsom’s desk would cut red tape and bring more in-law flats to backyards and garages across the state. The Legislature has sent the governor

Read More

Tips And Tricks For Selling Your Home With Pets

When it comes to selling your home, you want to get everything as close to perfect as possible. Decluttering and depersonalizing are a few of the many items on the checklist to get it "model home"

Read More

Ways To Improve The Marketability Of Your Home

As the busy summer months come to a close and we approach the fall and winter months, sellers with their homes still on the market or getting ready to list want to know how to make their home

Read More

Gen Z Prefers Real Estate Agents Over IBuyers

Nine out of 10 Generation Z adults, the youngest group to wade into the housing market, plan on using an agent to buy a home, according to a Homes.com survey. The finding flies

Read More