What Buyer Activity Tells Us About the Housing Market

Original Post

Though the housing market is no longer experiencing the frenzy of a year ago, buyers are showing their interest in purchasing a home. According to U.S. News:

“Housing markets have cooled slightly, but demand hasn’t disappeared, and in many places remains strong largely due to the shortage of homes on the market.”

That activity can be seen in the latest ShowingTime Showing Index, which is a measure of buyers actively touring available homes (see graph below):

The 62% jump in showings from December to January is one of the largest on record. There were also more showings in January than in any other month since last May. As you can see in the graph, it’s normal for showings to increase early in the year, but the jump this January was larger than usual, and a lot of that has to do with mortgage rates. Michael Lane, VP of Sales and Industry at ShowingTime+explains:

“It’s typical to see a seasonal increase in home showings in January as buyers get ready for the spring market, but a larger increase than any January before after last year’s rapid cooldown is significant. Mortgage rate activity this spring will play a big role in sales activity, but January’s home showings are a positive sign that buyers are getting back out there . . .”

It’s important to note that mortgage rates hovered in the low 6% range in January, which played a role in the high number of showings. What does this mean? When mortgage rates eased, buyer interest climbed. The jump in home showings early this year makes one thing clear – while rates may be volatile right now, there are interested buyers out there, and when mortgage rates are favorable, they’re ready to make their move. 

Bottom Line

An increase in showing activity in January is a good sign that there are buyers who are eager to purchase a home. If you’re thinking of selling your house, let’s talk so you’re ready when the time is right for you. 


Free Buyer Guide

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45 Easy Ways to Sell Your Home Faster

Robin McCoy is a Texas Realtor with Keller Williams Realty. License #0582766
RobinMcCoyRealty.com | 214.226.3770 | RobinMcCoy@kw.com


The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Robin McCoy Realty Group and Living in DFW does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Robin McCoy Realty Group and Living in DFW will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.


Here’s Why the Housing Market Isn’t Going To Crash

Original Post

Some Highlights

Today’s housing market is different than it was in 2008.

Lending standards have tightened, foreclosures have declinedhome inventory is much lower, and homeowners have far more equity.

If you’re concerned about a crash, let’s connect to discuss why this isn’t like last time.


Free Buyer Guide

Free Seller Guide

45 Easy Ways to Sell Your Home Faster

Robin McCoy is a Texas Realtor with Keller Williams Realty. License #0582766
RobinMcCoyRealty.com | 214.226.3770 | RobinMcCoy@kw.com


The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Robin McCoy Realty Group and Living in DFW does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Robin McCoy Realty Group and Living in DFW will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.


What’s New in Interior Design and Furniture

Are you looking for new ways to design your home’s interior, such as updating furniture? It’s fun to refresh your home with the latest design trends. Whether you are looking for a new color palette, a change in fabrics, or a whole new décor, here are some of the latest ideas and guidelines suggested by experts for 2023.

Softness and comfort

Rows, straight lines, and a cold, stark look in color, fabric, and design have taken a back seat to soft, round, curved, and natural shapes. In addition, shades of white, cream, brown, beige, and green are preferred colors because they remind homeowners of tranquility and simplicity. Soft cushions, armchairs, sofas with curved architecture, and arched doorways invite lived-in comfort for much relaxing and socializing at home. During post-pandemic times, rooms have become multi-purpose spaces for escape and leisure.

Environmentally friendly furnishings

Interior articles made with natural materials are in more demand as homeowners focus on the importance of sustainability and durability. Products made from wood, wool, stone, ceramics, marble, rattan, wicker, or recyclable resources have become favored because they connect to nature, health, and well-being while bringing a sense of brightness and luxury.

Nostalgia

Trends and styles of past decades are regaining popularity. The retro style of the 1970s, vibrant colors, bronze finishes, acrylic material, and floral designs is one example, and a return to art deco of the 1920s is another favorite. Mid-century vintage pieces have also seen a resurgence in which many are purchasing antiques at affordable prices and restoring them. With the rising cost of living, consumers are shopping cheaper but seeking better quality and more unique items. At the same time, there is an interest in fusing old styles with new such as the mingling of vintage and contemporary schemes throughout a room or home.

Silver versus gold

Silver, chrome, and steel furniture pieces are becoming favored over interior components with a yellowish gold, rose, and brass finish.

Experimentation with paint, patterns, and textures

Many want to make a statement with bold, primary colors and decorative detail. It is evident with increased interest in curved moldings, wall panels, decorative lighting, and accented upholstery with woven detail. Large-scale furniture pieces with mixed-color pairings are another approach to creating a vibrant environment. There is also a tendency to make an individual statement by painting one’s furniture to give it a customized look or go for an eclectic theme by mixing and matching items such as sofas, tables, and lamps. Other ideas are painted ceilings and wallpaper borders for windows and doors.

Functionality

As we seek more comfort and mobility in smaller dwellings, we find ways to utilize space practically. Many are creating new rooms or activity areas from unused space, such as converting a large closet or breakfast nook into a small office. Multifunctional furniture is sought for its practicality. Beds with side drawers to store clothing and blankets are a great alternative to a bulky dresser. A coat stand or hooks frees up the hall closet. Linen cabinets, height-adjustable washbasins, and walk-in showers make the bathroom a clutter-free and relaxing room to retreat in.

Bottom Line

You have your pick of designer ideas for 2023, whether you prefer to go bold or want a more natural setting with a subtle style. Although you may be working with a limited budget or space, these useful tips will allow you to be creative and experimental without sacrificing comfort and practicality.


Free Buyer Guide

Free Seller Guide

45 Easy Ways to Sell Your Home Faster

Robin McCoy is a Texas Realtor with Keller Williams Realty. License #0582766
RobinMcCoyRealty.com | 214.226.3770 | RobinMcCoy@kw.com


The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Robin McCoy Realty Group and Living in DFW does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Robin McCoy Realty Group and Living in DFW will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.


Easy Instructions for Kitchen Cabinet Painting

Now that spring is in the air, you may be considering refreshing the look of your kitchen. Your cabinets tend to get shabby, worn, and stained from constant cooking splatter and food odors. For a new look, you can replace them, but in considering cost, painting them is a cheaper option to add new life to your cabinetry while getting creative at the same time. It will depend on your kitchen size, but the paint and supplies cost usually averages about $200. If this is your first time painting your cabinets, here are some steps to consider before tackling this project.

Check that your cabinets are paintable

Wood, wood laminate, and metal usually can be repainted, but plastic laminate may require a special paint. Check with a paint dealer by bringing a door sample or test a hidden patch to ensure it will adhere correctly. Panels and other architectural details and damaged joints may need special care. You may have to purchase new parts or use a special painting technique such as spraying, rolling, or brushing with different-sized or textured brushes.

Decide on Latex or oil-based paint

If you are looking for quick-drying and easy-to-clean paint, Latex is your best selection. However, you may find oil-based paint more advantageous even though it is more expensive. Oil paint is more durable, yields a smoother finish, and is stain resistant. If you opt for latex paint, choose one with 100 percent acrylic formation for greater adhesion.

Kinds of paint application

You’ll need to decide if you’d rather spray or brush as per your budget and ability. You may need to rent a spray machine for accuracy and less mess, but it will bring your cost up. Brushing is more time-consuming, but this is a better choice if you’d prefer to take your time with the details. You’ll need both a flat and angled brush; natural bristles for oil-based paint and synthetic bristles for latex paint.

Preparation

You want to protect your surrounding items from paint residue in any painting task. Start by removing all contents from your cabinets. Cover your counters, appliances, and surrounding fixtures with a plastic tarp and affix firmly with tape. If the cabinet door needs to be detached to paint, create an area for items to hang or lay afterward to dry. If you have to dismantle doors, organize hinges, screws, and other hardware into a bag and label the area they belong to help you reattach them correctly. Scrub your soiled hardware with warm water and dish soap. Wipe off any grease or residue and completely dry before you paint. Sand as needed to remove the old finish and wipe or vacuum residual dust afterward. Instead of sanding, you can use a primer-sealer that helps the finish coat bond properly.

Applying the paint

Start with the most critical areas you’ll need more time with. Paint the inside edges and openings of the face frames first before you do the outer sides. Lastly, paint the face frame fronts. Be careful when painting wood pieces or molding that extra paint does not dry in the corners and crevices. Apply thin, light strokes and dry between coats for at least four hours. Two coats are usually sufficient, but you may want to apply a third for extra protection from everyday wear.

Bottom Line

You can easily renew and refresh the look of your kitchen without replacing cabinet doors and other hardware. Painting your cabinets, provided you prepare with the proper paint and tools, will give you a cost-friendly option to try new colors and test out your creative flair. At the same time, you will extend the life and durability of your cabinetry to help it endure for more years to come.


Free Buyer Guide

Free Seller Guide

45 Easy Ways to Sell Your Home Faster

Robin McCoy is a Texas Realtor with Keller Williams Realty. License #0582766
RobinMcCoyRealty.com | 214.226.3770 | RobinMcCoy@kw.com


The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Robin McCoy Realty Group and Living in DFW does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Robin McCoy Realty Group and Living in DFW will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.


Balancing Your Wants and Needs as a Homebuyer This Spring

Original Post

Though there are more homes for sale now than there were at this time last year, there’s still an undersupply with fewer houses available than in more normal, pre-pandemic years. The Monthly Housing Market Trends Report from realtor.com puts it this way: 

“While the number of homes for sale is increasing, it is still 43.2% lower than it was before the pandemic in 2017 to 2019. This means that there are still fewer homes available to buy on a typical day than there were a few years ago.”

The current housing shortage has an impact on how you search for a home this spring. With limited options on the market, buyers who consider what’s a necessity versus what’s a nice-to-have will be more successful in their home search.

The first step? Get pre-approved for a mortgage. Pre-approval helps you better understand what you can borrow for your home loan, and that plays an important role in how you’ll put your list together. After all, you don’t want to fall in love with a home that’s out of reach. Once you have a good grasp on your budget, the best way to prioritize all the features you want and need in a home is to put together a list.

Here’s a great way to think about them before you begin:

  • Must-Haves – If a house doesn’t have these features, it won’t work for you and your lifestyle.
  • Nice-To-Haves – These are features you’d love to have but can live without. Nice-to-haves aren’t dealbreakers, but if you find a home that hits all the must-haves and some of the these, it’s a contender.
  • Dream State – This is where you can really think big. Again, these aren’t features you’ll need, but if you find a home in your budget that has all the must-haves, most of the nice-to-haves, and any of these, it’s a clear winner.

Finally, once you’ve created your list and categorized it in a way that works for you, discuss it with your real estate agent. They’ll be able to help you refine the list further, coach you through the best ways to stick to it and find a home in your area that meets your needs.

Bottom Line

Prioritizing what you need in a home is a critical first step in the buying process. If you’re ready to find the one that’s best for you, let’s connect.


Free Buyer Guide

Free Seller Guide

45 Easy Ways to Sell Your Home Faster

Robin McCoy is a Texas Realtor with Keller Williams Realty. License #0582766
RobinMcCoyRealty.com | 214.226.3770 | RobinMcCoy@kw.com


The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Robin McCoy Realty Group and Living in DFW does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Robin McCoy Realty Group and Living in DFW will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.


Spring Cleaning Trends

Spring is a time for rebirth and rejuvenation. It’s time to eliminate any accumulation of dust, stale air, grime, or clutter that can breed bacteria and other contaminants. You can easily freshen up with simple tricks while using a system for pacing yourself to avoid becoming overwhelmed. Here are some tips for tidying up and deep cleaning your home as springtime approaches.

When you don’t know where to start, think of spring cleaning as a series of phases. The first phase should be to downsize or declutter, the next to surface clean, and finally, to deep clean. Within those phases, you should begin by creating a checklist. Start by going from room to room to see which areas need the most decluttering and last cleaned a while ago. Then start with the following:

Organize storage spaces

Sort what you will keep, discard, and donate into three piles. Categorize the items you will keep into bins, label them, and place them on shelves along the wall to maximize floor space. Reuse old plates and bowls to store small items such as buttons, cords, and stamps. Add a non-slip liner to drawers and cabinets to keep everything in place. Rotate old items to the front and remove packaging. Toss used and expired items from the kitchen and bathroom.

Clean higher areas first

Areas like ceilings, ceiling fans, light fixtures, and upper walls need to be vacuumed, polished, or dusted first because of the loose dirt and grime that will end up on the floor. Use a Swiffer or extendable duster and clean before you do the floors to avoid cleaning the bottom half a second time.

Surface clean

Before you begin scrubbing, it’s important to remove superficial dirt and dust from areas exposed to the elements, such as windows and patio furniture. Brush off or vacuum before you spray with a disinfectant or all-purpose cleaner. For windows, use a soft microfiber cloth to prevent streaking. Clean your windows and blinds on a cloudy day to avoid the sun drying up the cleaner quicker than you can wipe it down. Slower drying will prevent streaks. Vacuum soft furniture crevices with the upholstery attachment of your vacuum cleaner. Remove the fuzz from your dryer’s lint catcher each time you dry a load of clothing, and have a serviceman periodically clean your exhaust hose to protect against fire hazards.

Deep clean

Large appliances, rugs, cabinetry, and other furnishings are typical areas to target for spring cleaning because they are usually not on your daily or weekly radar for cleaning. Before you begin, consider one room and appliance at a time, then any small parts. Appliances such as your refrigerator, dishwasher, microwave, and stove tend to accumulate stubborn food remnants, crumbs, stains, and other debris. Although you may use a harsh chemical cleaner for heavier grime, like on your stove, it is cheaper and healthier to use mild household items to clean, such as dish detergent, vinegar, baking soda, and lemon in paste form or diluted in warm water. For instance, you can use lemon rinds and cold water to flush out your garbage disposal for 15-30 seconds. You can steam clean your microwave with a bowl of hot water and vinegar or lemon. Once it cools, wipe it down. Disinfect your dishwasher by running the rinse cycle with vinegar and baking soda. Remove hard water buildup on shower heads by immersing it in a bag of hot water and vinegar, then scrub clean. Don’t want to move your heavy stove again to clean behind it? Use a stove gap cover to keep crumbs out of hard-to-reach places.

Laundering

Save yourself time and labor when it comes to intensive cleaning for such articles as your window and shower curtains, drapes, area rugs, comforters, pillows, and reusable grocery bags. Your washer will allow quicker and easier sanitization and elimination of dust mites and other airborne pathogens. Check the manufacturer’s cleaning instructions before you machine wash.

Clean areas that can cause odors

Your sinks, toilet, and trash cans are bacterial havens that emit rancid smells after being overlooked. Remove musty odors from carpets by using baking soda or carpet deodorizer. Use one of the mentioned mild household cleaners or all-purpose disinfectants and mix with warm water to allow to sit until sanitized before rinsing. Investing in a carpet cleaning appliance with a rotating brush may be wise.

Lighter cleaning treatment

Use a special polish and carefully follow directions for cleaning silverware and granite countertops. Season cast-iron pans as needed and wipe down small appliances, such as knife blocks which can get splattered during cooking. Make sure that paint surfaces and wallpaper are washable before you clean or consider using stain-resistant paints.

Bottom Line

Spring is a welcoming season for many of us, but the cleaning required after winter’s dormancy can be taxing and time-consuming. You can save unnecessary toil by practicing these time-saving tricks and pacing yourself through the cleaning phases with manageable checklists.


Free Buyer Guide

Free Seller Guide

45 Easy Ways to Sell Your Home Faster

Robin McCoy is a Texas Realtor with Keller Williams Realty. License #0582766
RobinMcCoyRealty.com | 214.226.3770 | RobinMcCoy@kw.com


The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Robin McCoy Realty Group and Living in DFW does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Robin McCoy Realty Group and Living in DFW will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.


An Expert Gives You Clarity in Today’s Housing Market

Original Post

The housing market has been going through shifts lately. That’s why it’s so important to work with an industry professional who can be your guide throughout the process.

A real estate expert uses their knowledge of what’s really happening with home prices, housing supply, expert projections, and more to give you the best advice. Someone who can provide clarity like that is critical right now. Jay Thompson, Real Estate Industry Consultant, explains:

“Housing market headlines are everywhere. Many are quite sensational, ending with exclamation points or predicting impending doom for the industry. Clickbait, the sensationalizing of headlines and content, has been an issue since the dawn of the internet, and housing news is not immune to it.”

Unfortunately, when information in the media isn’t clear, it can generate a lot of fear and uncertainty in the market. As Jason Lewris, Co-Founder and Chief Data Officer at Parclsays:

“In the absence of trustworthy, up-to-date information, real estate decisions are increasingly being driven by fear, uncertainty, and doubt.”

But it doesn’t have to be that way. Buying a home is a big decision, and it should be one you feel confident making. You can lean on an expert to help you separate fact from fiction and get the answers you need.

The right agent can help you understand what’s happening at the national and local levels, and they can debunk headlines using data you can trust. Experts have in-depth knowledge of the industry and can provide context, so you know how current trends compare to the normal ebbs and flows in the industry, historical data, and more.

Then, to make sure you have the full picture, an agent can tell you if your local area is following the national trend or if they’re seeing something different in your market. Together, you can use all that information to make the best possible decision.

After all, making a move is a potentially life-changing milestone. It should be something you feel ready for and excited about. And that’s where a trusted expert comes in.

Bottom Line

For expert advice and the latest housing market insights, let’s connect.


Free Buyer Guide

Free Seller Guide

45 Easy Ways to Sell Your Home Faster

Robin McCoy is a Texas Realtor with Keller Williams Realty. License #0582766
RobinMcCoyRealty.com | 214.226.3770 | RobinMcCoy@kw.com


The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Robin McCoy Realty Group and Living in DFW does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Robin McCoy Realty Group and Living in DFW will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.


What Is Up with These Interest Rates with Christian Johnson

In this episode, I talk with Christian Johnson of Guaranteed Rate* to explain how these increases and decreases in the mortgage interest rate can affect the home buying process. Inflation has caused interest rates to rise causing a big shift in the housing market across the nation.

Christian Johnson is the Senior Vice President in Dallas Fort Worth with Guaranteed Rate. He has more than 20+ years of mortgage experience in listening to customers’ needs and determining the right path for present and future financial success. Christian has assisted many families in calling a house their new home with timely and successful closings. His attention to detail and tenacity in today’s financing world to provide hassle-free loan acquisition and closure reveal why he has been chosen as one of the Best Mortgage Professionals in Dallas every year running.

Christian cultivates and builds long-lasting relationships with buyers, sellers, listing and selling agents, and business partners who continually refer their clients. “I assess the individual circumstances of each client to determine the best game plan for homeownership and their family needs,” he says. In an age of great technology, Christian is still committed to high-touch personal service for each individual homebuyer. Christian has the ability to close all types of loans, including Jumbo, Portfolio, Conventional, FHA, and VA.

Guaranteed Rate offers top-of-the-line technology and customer service that guides you through the home-buying process with ease whether it’s your first home or fifth home. Your service from Christian will continue long after the initial purchase of your home. Christian has a broad knowledge of the Dallas-Fort Worth area and has lived in the Dallas area for over 25 years. He has been a State and National Top Producer for many years and continues to be one of Guaranteed Rates Top Performers nationwide.

Who you’re in business with matters! To get in contact with Christian for all your home loan questions, use any of the methods listed below.

*Christian moved from Caliber Home Loans to Guaranteed Rate in November 2022*
_______________________________________
Christian Johnson, Guaranteed Rate
Phone: 214.763.8767
Email: Christian.Johnson@rate.com
IG: @HomeLoansByChristian
_______________________________________

Free Buyer Guide

Free Seller Guide

45 Easy Ways to Sell Your Home Faster

Robin McCoy is a Texas Realtor with Keller Williams Realty. License #0582766
RobinMcCoyRealty.com | 214.226.3770 | RobinMcCoy@kw.com


The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Robin McCoy Realty Group and Living in DFW does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Robin McCoy Realty Group and Living in DFW will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.


Time and Money with Billie Anne Grigg

In this episode, I speak with Billie Anne Grigg about money management and the similarities between money and time. Billie Anne currently works for Profit First Professionals and is still part-owner of Pocket Protector Bookkeping.

Billie Anne has been a bookkeeper since before the turn of the century (this one, despite what her knees seem to think). She is a Mastery Level Certified Profit First Professional and the Lead Technical Guide (coach) for the Profit First Professionals organization. She is also a frequent contributor for NerdWallet, AccountingWeb, and other industry publications. Billie Anne started Pocket Protector Bookkeeping in 2012 to provide an excellent virtual bookkeeping and managerial accounting solution for small businesses that cannot yet justify employing a full-time, in-house bookkeeping staff. She has since transitioned principal ownership of the firm to her adult son. When she’s not guiding others to permanent profitability, Billie Anne can usually be found on a hiking trail, lost in the woods on purpose.

“There’s no shame in where you are. The number of people I’ve talked to over the years, you hear it in their voice and now you see it on Zoom, it’s like ‘My books are a mess.‘ It’s okay. You’re not a bookkeeper. You weren’t trained to do bookkeeping. You’re trying to grow a business. It’s okay that your books are a mess. It’s even okay if your bank accounts are a mess right now and you feel like you’re just scraping the bottom of the barrel. We [at Profit First Professionals] can help you out of it.”
_______________________________________
Billie Anne Grigg: Profit First Professionals
Billie Anne Grigg: Pocket Protector Bookkeeping
Email: billieanne@profitfirstprofessionals.com
LinkedIn: Billie Anne Grigg
_______________________________________

Free Buyer Guide

Free Seller Guide

45 Easy Ways to Sell Your Home Faster

Robin McCoy is a Texas Realtor with Keller Williams Realty. License #0582766
RobinMcCoyRealty.com | 214.226.3770 | RobinMcCoy@kw.com


The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Robin McCoy Realty Group and Living in DFW does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Robin McCoy Realty Group and Living in DFW will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.


Leverage Your Equity When You Sell Your House

Original Post

One of the benefits of being a homeowner is that you build equity over time. By selling your house, that equity can be used toward purchasing your next home. But before you can put it to use, you should understand exactly what equity is and how it grows. Bankrate explains it like this:

“Home equity is the portion of your home you’ve paid off – in other words, your stake in the property as opposed to the lender’s. In practical terms, home equity is the appraised value of your home minus any outstanding mortgage and loan balances.”

Majority of Americans Have a Large Amount of Equity

If you’ve owned your home for a while, you’ve likely built up some equity – and you may not even realize how much. Based on data from the U.S. Census Bureau and ATTOM, the majority of Americans have a substantial amount of equity right now (see graph below):

And having such large amounts of equity is a benefit to homeowners in more ways than one. Rick Sharga, Executive Vice President of Market Intelligence at ATTOMexplains:

“Record levels of home equity provide security for millions of families, and minimize the chance of another housing market crash like the one we saw in 2008.”

Over time, your home equity grows. In addition to providing financial stability while you own your house, when you’re ready to sell it, that money could go a long way toward paying for your next home. 

Bottom Line

By selling your house and leveraging your equity, it can be easier to pay for your next home. Let’s connect today so you can find out how much home equity you have and start planning your next move.


Free Buyer Guide

Free Seller Guide

45 Easy Ways to Sell Your Home Faster

Robin McCoy is a Texas Realtor with Keller Williams Realty. License #0582766
RobinMcCoyRealty.com | 214.226.3770 | RobinMcCoy@kw.com


The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Robin McCoy Realty Group and Living in DFW does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Robin McCoy Realty Group and Living in DFW will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.