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Value | The Keenan Carter Group, Keller Williams Realty CC Blog

Friday, June 21, 2024   /   by Dick Keenan

Your Equity Could Make a Move Possible

Many homeowners today feel trapped by the current high mortgage rates, making the idea of selling and moving less appealing. If you’re in this situation, it might seem like there’s no good solution. However, there’s a potential way to counteract these higher borrowing costs: leveraging the equity in your current home.

What Is Equity?

Equity is essentially the difference between your home's market value and what you owe on your mortgage. As you pay down your mortgage and as home values rise, your equity increases. Recent years have seen significant home price appreciation, so many homeowners have more equity than they might realize.

According to the latest data from the Census and ATTOM, over two-thirds of homeowners have either completely paid off their mortgages or have at least 50% equity in their homes.

How Your Equity Can Help You Move

Your home equity can be a powerful tool when selling your house, helping you navigate higher mortgage rates more ea. ...

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Wednesday, June 19, 2024   /   by Dick Keenan

Home Prices Aren't Falling, Despite What Headlines Suggest

If you’ve been following the news about home sellers cutting prices, it's a classic case of headlines being more alarming than informative. Here's the real scoop on home prices.

The main takeaway is that home prices are higher now than they were a year ago and are expected to keep climbing, though at a slower rate.

A recent article from Redfin states,

“Price Drops Hit Highest Level in 18 Months As High Rates Dampen Buyer Demand.” This might make you think prices are falling.

It's true that Realtor.com’s latest report shows 16.6% of homes on the market had price reductions in May, up from 12.7% last May, but this doesn’t mean overall home prices are declining.

The key is understanding the difference between the asking price and the sold price.

Understanding Asking Price vs. Sold Price

The asking price, or listing price, is what a seller hopes to get when they list their home. Sellers can’t just pick any price and expect top dollar. ...

  listing price, home value

Wednesday, April 14, 2021   /   by Traci Pimentel

93% Of Americans Believe A Home Is A Better Investment Than Stocks

A recent Survey of Consumer Finances study released by the Federal Reserve reveals the net worth of homeowners is forty times greater than that of renters. If you’re wondering if homeownership is a good investment, the study clearly answers that question, and the answer is yes.
Do Americans believe a home is a better investment than stocks?
In a post on the Liberty Street Economics blog, the Federal Reserve Bank of New York notes that 93.3% of Americans believe buying a home is definitely or probably a better investment than buying stocks.
Here’s how the results break down:The survey also shows a wide range of reasons why Americans feel that way (respondents were able to pick more than one answer):
Bottom Line
The data show how strongly Americans believe in homeownership as an investment. That belief is warranted. The Liberty Street Economics blog put it best by saying:
“Housi ...

  real estate, keenan carter group, keller williams, home ownership, real estate agent, home owner, first time home buyer, housing economy, home value, invest in real estate instead of stock, more value in real estate than stock, real estate investing, stock investing, stocks, stocks versus real estate

Thursday, June 18, 2020   /   by Traci Pimentel

National Homeowner Equity

CoreLogic analysis shows U.S. homeowners with mortgages (roughly 63% of all properties) have seen their equity increase by a total of nearly $590 billion since the first quarter of 2019, an increase of 6.5%, year over year.  
 
In the first quarter of 2020, the average homeowner gained approximately $9,600 in equity during the past year

?The Keenan Carter Group, DRE# 00860187
Keller Williams Realty Central Coast, DRE# 02005015
Graph and content courtesy of Keeping Current Matters. ...

  real estate, keenan carter group, keller williams, central coast, home buyer, home purchase, home ownership, home owner, california, value, equity, home equity

The Keenan Carter Group
Richard Keenan And Narlene Carter Keenan
350 James Way, Ste 130
Pismo Beach, CA 93449
805-773-7711
Keller Williams Realty Central Coast DRE# 02005015
The Keenan Carter Group DRE# 00860187
Each Office is Independently Owned and Operated.

Based on information from California Regional Multiple Listing Service, Inc. as of July 14, 2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
Information is provided exclusively for consumers’ personal use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable, but is not guaranteed accurate by the MLS.
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