Unlocking the Power of Equity: Your Key to a Smoother Move
- The Jade Zivko Team
- Aug 23, 2023
- 2 min read
Hello, smart homeowner! If you're grappling with the idea of selling your home, worry not. We're here to illuminate the incredible potential of equity – your secret weapon in today's dynamic housing market. If rising mortgage rates have you feeling uncertain, let's delve into the pragmatic magic of equity to bolster your confidence in making your move.
Chapter 1: Understanding Equity
Equity, in straightforward terms, is the disparity between your home's current value and the remaining balance on your mortgage. Here's the inside scoop: while home prices have surged in recent years, your equity has quietly flourished. While the market is stabilizing, robust demand continues to uphold prices. According to Rob Barber of ATTOM,
"Equity levels remained robust even during the recent downturn and are now rebounding stronger than ever."
Chapter 2: Empowering Your Move
Listen closely! Amidst today's bustling market, your equity is your most valuable asset. Envision this: an impressive 70% of homeowners have substantial equity (refer to our user-friendly chart below):
What does this signify for you? Envisage harnessing your equity for a substantial down payment on your upcoming home. This could mean reduced financing pressures and greater control. If you've owned your home for an extended period, you might even possess the ability to purchase your new home without resorting to borrowing. The cherry on top? Say goodbye to concerns about fluctuating mortgage rates.
Chapter 3: The Equity Revelation
Unveiling your equity potential is simpler than you might think. Your reliable real estate agent can furnish you with a Professional Equity Assessment Report (PEAR). Think of this report as your compass, directing you toward the treasure trove of equity you've meticulously amassed over time.
Conclusion: Embark on Your Equity Adventure
Congratulations, exceptional homeowner! Armed with equity insights, you're poised to excel in the moving game. Equity is your steadfast companion, transforming your move into a breeze. If you're eager to convert your equity into the key to your next home, let's have a conversation. A real estate agent will assist you in deciphering the enigma of your equity and clearing the path for a seamless move. Brace yourself for a new chapter in your journey of homeownership!
Need help? Give us a call today!
Jade Kim Zivko
(216) 338-5918
source of information: simplifyingthemarket.com
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