Foreclosures on the rise? Home Values up or down? How much Equity do Home Owners have NOW? Let's talk about the facts! (See if you can find the audio gremlins this week)
First up, headlines are confusing, so should we expect a wave of foreclosures? Here are two headlines to highlight the confusion within the last 2 months...
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So what are the facts? Mortgage delinguency is declining and at all time lows:
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68+% of home owners have at least 50% equity in their home. ONLY 2% have less than 10% equity in their home. Home owners have many options due to strong equity.
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Home values continue to rise because demand is still outpacing supply, why? Because of a lack of home building over the last 10-14 years! It will take years for it to catch up to demand (yes, even with higher interest rates). So the encouragement is to get prepared to reach your goals by understanding your equity and talking to us as professionals who can help you make the most of the opportunity NOW.
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Our only aim is to reach YOUR goals, this year we have been doing that at a fast pace than the rest of the market! Give us a call to get moving TODAY!
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