While the stock market can be quite volatile, real estate has proven to be a stable investment over the years. According to the US Department of Housing and Urban Development, real estate prices had an average increase of 56% over a five-year period. Forbes reported an increase of 247% over the last 25 years. However, times are beginning to change. In fact, the national rate of real estate appreciation has had its most significant decline since the fourth quarter of 1999.
With this in mind, perhaps now is a good time to begin evaluating your financial needs for the future. If you were already thinking about utilizing your home's equity to consolidate debt, save for college tuitions or retirement, or even for additional real estate and other investments, contact your mortgage professional right away. Don't let this chance to realize the full value of your home's equity pass you by.