Home Values Are Up...But For How Long?
Average Price
The average price of a home has jumped over 20% over the past 12 months. Homeowners are enjoying more equity than any other time over the past 15 years. How long will this last? No one knows for sure but here is what to look out for...
Foreclosure Market
The foreclosure market is up 49% over last year according to Realtor.com and could have negative impacts on home values in the coming year. The increase in foreclosures was expected after the foreclosure moratorium was recently lifted. Some homeowners without equity may choose to Short Sale their home instead of foreclosing to reduce the negative impact on credit.
Foreclosure Market
The foreclosure market is up 49% over last year according to Realtor.com and could have negative impacts on home values in the coming year. The increase in foreclosures was expected after the foreclosure moratorium was recently lifted. Some homeowners without equity may choose to Short Sale their home instead of foreclosing to reduce the negative impact on credit.
Mortgage Forbearance Programs
The mortgage forbearance programs are beginning to wind down and borrowers are having to make difficult decisions as to what to do next. Some may qualify to modify their loan with their existing lenders while others may choose to refinance altogether if they qualify.
If you see a home of interest, call us first!
We have access to all the homes listed with any real estate company.
Please call us with any questions.
530-222-3800
