How Much Has Your Marysville Home Increased in Value?
Last year we saw headlines about a possible housing market bubble, and many wondered if Americans still felt confident about the value of their homes. Recently, the 2018 Houzz & Home Study revealed:
“Homeowners with mortgages have seen their home equity more than double since 2011, increasing to a record-setting $8.3 trillion in 2017.”
The average homeowner gained $16,200 in home equity between Q2 2017 and Q2 2018 according to the latest release of CoreLogic’s Home Equity Report.
Reasons for Appreciation
Since 2011 home values have increased significantly throughout the country, with prices rising by 5.1% in 2018 alone. When surveyed, homeowners revealed the top four reasons why they felt their homes had increased in value.
1. Desirable Location
2. Improved National Economy
3. Improved Local Economy
4. Low Home Inventory in My Area
Current Marysville Status
Here in Marysville alone, our homes appreciated by 5.7% last year alone. We also saw 8.5% in 2017 and an amazing 10.3% in 2015 and 2013. Currently we have seen a total of 35.6% appreciation here in Marysville sine 2011.
As you can see below, 2015 and 2013 we appreciated by 10.3% & 10.2% respectively. As an example, a home worth $200,000 in 2011 would currently be worth $271,145, if it is in move-in condition.
Many Have Taken Advantage of Their Equity
As we can see, not only does the data show that the homes have appreciated, but homeowners also believe they know why. Many have taken advantage of the opportunity to use their newly found equity to sell their current house and move up to their dream home!
2019 will be a good year for the homeowners that still want to take advantage of their home equity! CoreLogic forecasts that home prices will increase by 4.8% by the end of the year.
Will you be looking to take advantage of your home's equity in 2019? If so, here is a valuable tool that will allow you to see what your home is worth instantly! In as little as 15 seconds
If you are a homeowner who would like to find out your current home value, let’s get together to discuss the hidden opportunities in your home!