Bay Area Real Estate Activity by Counties for week of September 15-22 compared to last year

The Surprising Amount of Home Equity You’ve Gained over the Years

There are a number of reasons you may be thinking about selling your house. And as you weigh your options, you may find you’re unsure how you’re going to deal with one thing about today’s housing market – and that’s affordability. If that’s your biggest concern, understanding how much equity you have in your house could help make your decision that much easier. Here are two key factors that have a big impact on your equity. How Long You’ve Been in Your Home First up is homeowner tenure. That’s how long homeowners live in a house, on average, before selling or choosing to move. From 1985 to 2009, the average length of time homeowners stayed put was roughly six years. But according to the National Association of Realtors (NAR), that number has been climbing. Now, the average tenure is 10 years (see graph below): Here’s why that’s such a big deal. You gain equity as you pay down your home loan and as home prices climb. And when you combine all of your mortgage payments with ho...

Why Most Sellers Hire Real Estate Agents Today?

Selling your house without an agent as a “For Sale by Owner” (FSBO) may be something you’ve considered. But you should know that, in today’s shifting market, more homeowners are deciding that’s just not worth the risk. According to the latest data from the National Association of Realtors (NAR), the number of homeowners selling without an agent has hit an all-time low ( see graph below ): And for the small number of homeowners who do decide to sell on their own, data shows they’re still not confident they’re making a good choice. A recent survey finds three out of every four homeowners who don’t plan to use an agent have doubts about whether that’s actually the right decision . And here’s why. The market is changing – not in a bad way, just in a way that requires a smarter, more strategic approach. And having a real estate expert in your corner really pays off. Here are just two of the ways an agent's expertise makes a difference. 1. Getting the ...

Vishal Karnik

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