Homeowners On Track to Regain Equity

 

 

Home values are steadily rising, putting many underwater homeowners on track to regain enough equity by 2015 without having to short sell.  This prediction should hold true if home prices continue to rise at 1.33 percent per month.  Some homeowners have already regained their equity and are now selling their homes after a long wait.

 

According to recent reports, however, 8.3 million homes across the country will still need more time before they enjoy a positive equity status.  The good news is that as home values go up, we should begin to see more homes available for sale. 

 

Reports further show that one out of four homes in foreclosure may have enough equity to sell before the property goes back to the bank.

 

This is good news for sellers, but buyers may not be as thrilled since they will probably pay more for the same home that they passed on last year.  

 

Naturally, the doomsayers are worried that we are headed back to where we were before the bubble burst.  While that could be true, I think I will choose to just bask in some good news for awhile and enjoy the ride!

 

Nancy Puder is a real estate broker at Signature Properties, a prestigious real estate firm in Arroyo Grande, CA. You may contact her at Nancy@NancyPuder.com or (805)710-2415 She always enjoys hearing from you!