The U.S. Economy is in recovery and because of this fact families across the U.S. are feeling more relief as their financial situations are beginning to improve. Families are now able to save a bit of money and look into other options to build their net worth. A good way to significantly increase your net worth is by investing in real estate.
Every quarter, Pulsenomics asks a nationwide panel of economists, real estate experts and investment and market strategists what they believe residential prices will do over the next five years. Results for their latest survey, a $250,000 home will appreciate $43,198 by January 2021. The appreciation looks like this year over year, January 2017 $260,000, January 2018 $268,840, January 2019 $276,905, January 2020 $285,212 and finally January 2020 $293,198.
Other interesting details from their survey is a projection that home values will appreciate by 4 percent through 2016, by 3.4 percent in 2017 and by 3 percent over the following two years. Average 3.2 percent yearly appreciation in the 5 years.
CoreLogic just release their latest equity report which showed that 92 percent of all mortgaged properties are now showing positive equity and 74 percent have significant equity (more than 20%). Their report also stated that approximately 268,000 families got back their equity in the beginning of 2016 and are no longer under water.
Using the appreciation numbers from above, now is the time to buy! Get into a home to be able to take advantage of the coming appreciation and wealth building. Contact me today so I can start your home search!
And remember if you, a friend or family member need assistance with selling or buying a home I can help. Referrals and people needing relocation assistance are welcome! Search Single Family homes in Greenville. Search Condos and Townhomes in Greenville.