When the housing bubble burst in 2008 home prices went into free fall. Millions of homeowners woke up one morning to find that all of the equity in their home had vanished over night.
Since then, the housing market has followed a bumpy trail, full of brief bouts of recovery followed by more bad news. However, the last couple years brought dramatic change to the U.S. real estate market. In 2013, home prices skyrocketed, and they continue to rise to today.
For homeowners hit hard by the housing market crash, this means that your situation is likely dramatically different. More than 5.8 million homeowners nationwide have regained equity. Today, these homeowners have more options than any other time since the market crashed. Just see what one RE/MAX agent had to say about their market:
“Over the last year and a half I have had more people come to me thinking they need a short sale only to be shocked by the current market value and the positive equity in their home,” said Frank Duran, broker at RE/MAX Alliance, covering the Westminster, Colo., market in the Denver metro area. “We have certainly seen an upward turn in the market.”
It’s important to reevaluate the equity you have in your home! Contact me today to discover how much your home is worth.
To Your Success!