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Entry-Level Homeowners Are in the Driver’s Seat

By
Real Estate Agent with TOP SELLING REALTY Lic. # SL3154233

are home prices up in fort myers fl?

 

 

 

One thing helping homeowners right now is price appreciation, especially in the entry-level market. In the latest Home Price Insights report, CoreLogic reveals how home prices increased by 4% year-over-year and projects prices will rise 5.2% by December 2020.

 

 

Why is this good news for the homeowners?

When prices appreciate, homeowners gain equity. In addition, those planning to sell this year, especially in the entry-level market, can potentially earn a substantial profit.

Dr. Frank Nothaft, Chief Economist at CoreLogic, says:

“Moderately priced homes are in high demand and short supply, pushing up values…Homes that sold for 25% or more below the local median price experienced a 5.9% price gain in 2019, compared with a 3.7% gain for homes that sold for 25% or more above the median.”

As Dr. Nothaft indicates, the lack of inventory continues to drive home price growth. This means there’s a high demand for homes in this tier of the market, making it a great time to consider using your equity to move up to a bigger or more premium home.

When you upgrade your home, you may be able to find the amenities or features you’ve dreamed of – such as a yard to plant or garden in with your family this spring, or more outdoor space for entertaining this summer. Maybe it’s the master bath you’ve always hoped for, or a garage to finally park your car inside.

Whatever you choose, if you’re moving out of an entry-level house, you’re likely going to be in the driver’s seat as a seller.

Bottom Line

If you’d like to own a bigger home, sit down with your local real estate professional Abby Stiller to discuss your situation. You may be surprised by the current value of your home and the equity you’ve gained. 

 

info provided by KCM

 

Posted by

Abby Stiller 

Broker Lic. BK3154233

TOP SELLING REALTY     

16 Years of Experience!

 

 Cape Coral Fort Myers Naples  Realtor Cape Coral      

 

 

I help Home buyers find their dream home & Homeowners sell for more. Thinking of buying or selling? Call/Text me: 239-284-8637   

or visit: www.TeamStiller.com

 

Home Buyers Specialist     Veteran specialist  Foreclosure short sale specialist

 

Comments (5)

Eva B. Liland Century 21 Doug Anderson
Century 21 Doug Anderson - Lancaster, CA
Glad to be of Service 661-714-1643

Yes Abby Stiller , I see no ending to home prices going down and with the super low interest rates we have now, entry level buyers can still afford to buy a home in today's market.

Feb 26, 2020 06:23 PM
Abby Stiller
TOP SELLING REALTY - Cape Coral, FL
SW Florida (239) 284-8637

Indeed Eva B. Liland Century 21 Doug Anderson Those who couldn't buy last year should hurry up now and take advantage of the low interest rates. 

Feb 26, 2020 07:07 PM
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

Hopefully those that can afford to take advantage of buying in your market will do so now while the window of opportunity is open Abby Stiller .

Feb 26, 2020 07:23 PM
John Pusa
Glendale, CA

Very true Abby Stiller low interest rates and many good programs benefited entry level homeowners. Great post!

Feb 26, 2020 08:01 PM
Abby Stiller
TOP SELLING REALTY - Cape Coral, FL
SW Florida (239) 284-8637

Thank you for your comments John Pusa and Bob "RealMan" Timm 

Feb 27, 2020 02:36 PM