{"id":154,"date":"2024-09-11T12:02:20","date_gmt":"2024-09-11T17:02:20","guid":{"rendered":"https:\/\/twilabertrand.sites.c21.homes\/?p=154"},"modified":"2024-09-11T12:02:20","modified_gmt":"2024-09-11T17:02:20","slug":"the-surprising-amount-of-home-equity-youve-gained-over-the-years","status":"publish","type":"post","link":"https:\/\/twilabertrand.sites.c21.homes\/?p=154","title":{"rendered":"The Surprising Amount of Home Equity You\u2019ve Gained over the Years"},"content":{"rendered":"

The Surprising Amount of Home Equity You\u2019ve Gained over the Years<\/a><\/h2>\n
For Sellers,\u00a0<\/a><\/span>Home Prices,\u00a0<\/a><\/span>Inventory<\/a><\/span><\/div>\n
\n
Article from Keeping Current Matters<\/div>\n
<\/div>\n<\/div>\n
\n
\n

There are a number of\u00a0reasons<\/a>\u00a0you may be thinking about\u00a0selling<\/a>\u00a0your house. And as you weigh your options, you may find you\u2019re unsure how you\u2019re going to deal with one thing about today\u2019s\u00a0housing market<\/a>\u00a0\u2013 and that\u2019s\u00a0affordability<\/a>. If that\u2019s your biggest concern, understanding how much equity you have in your house could help make your\u00a0decision<\/a>\u00a0that much easier. Here are two key factors that have a big impact on your equity.<\/p>\n

How Long You\u2019ve Been in Your Home<\/strong><\/h4>\n

First up is homeowner tenure. That\u2019s how long homeowners live in a house, on average, before\u00a0selling<\/a>\u00a0or choosing to move. From 1985 to 2009, the average length of time homeowners stayed put was roughly six years.<\/p>\n

But\u00a0according<\/a>\u00a0to the\u00a0National Association of Realtors<\/em>\u00a0(NAR), that number has been climbing.\u00a0Now, the average tenure is 10 years (see graph below<\/em>):<\/p>\n

\"No<\/a><\/p>\n

Here\u2019s why that\u2019s such a big deal. You gain\u00a0equity<\/a>\u00a0as you pay down your home loan and as home prices climb. And when you combine all of your mortgage payments with how much\u00a0prices<\/a>\u00a0have gone up over the span of 10 years, that adds up. So, if you\u2019ve lived in your house for a while now, you may be sitting on a pile of equity.<\/p>\n

How Home Prices Appreciate over Time<\/strong><\/h4>\n

To help show how much the price appreciation piece adds up, take a look at this\u00a0data<\/a>\u00a0from the\u00a0Federal Housing Finance Agency<\/em>\u00a0(FHFA) (see graph below<\/em>):<\/p>\n

 <\/p>\n

\"No<\/a><\/p>\n

Here\u2019s what this means for you. While\u00a0home prices<\/a>\u00a0vary by area, the typical homeowner who\u2019s been in their house for five years saw it increase in value by nearly 60%. And the average homeowner who\u2019s owned their home for 30 years saw it more than triple in value in that time.<\/p>\n

Whether you\u2019re looking to\u00a0downsize<\/a>, relocate to a\u00a0dream destination, or move so you can live closer to friends or loved ones, your\u00a0equity<\/a>\u00a0can be a game changer.<\/p>\n<\/div>\n

\n

Bottom Line<\/h3>\n

If you want to find out how much equity you\u2019ve built up over the years and how you can use it to buy your next home, let\u2019s connect.<\/p>\n

Representing Buyers and Sellers with Real Estate sells and purchases in Lufkin, Huntington, Nacogdoches, and all over East Texas since 2012!<\/em><\/strong><\/p>\n

Twila Bertrand, Realtor<\/em><\/strong><\/p>\n

CENTURY 21 Cota Realty<\/em><\/strong><\/p>\n

1306 N Medford Drive<\/p>\n

Lufkin, Tx 75901<\/p>\n

https:\/\/www.zillow.com\/profile\/Twila%20Bertrand<\/a><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Surprising Amount of Home Equity You\u2019ve Gained over the Years Monday September 9th, 2024\u00a0For Sellers,\u00a0Home Prices,\u00a0Inventory Article from Keeping Current Matters There are a number of\u00a0reasons\u00a0you may be thinking about\u00a0selling\u00a0your house. And as you weigh your options, you may find you\u2019re unsure how you\u2019re going to deal with one thing about today\u2019s\u00a0housing market\u00a0\u2013 and […]<\/p>\n","protected":false},"author":194391,"featured_media":155,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-154","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/twilabertrand.sites.c21.homes\/index.php?rest_route=\/wp\/v2\/posts\/154","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/twilabertrand.sites.c21.homes\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/twilabertrand.sites.c21.homes\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/twilabertrand.sites.c21.homes\/index.php?rest_route=\/wp\/v2\/users\/194391"}],"replies":[{"embeddable":true,"href":"https:\/\/twilabertrand.sites.c21.homes\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=154"}],"version-history":[{"count":1,"href":"https:\/\/twilabertrand.sites.c21.homes\/index.php?rest_route=\/wp\/v2\/posts\/154\/revisions"}],"predecessor-version":[{"id":156,"href":"https:\/\/twilabertrand.sites.c21.homes\/index.php?rest_route=\/wp\/v2\/posts\/154\/revisions\/156"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/twilabertrand.sites.c21.homes\/index.php?rest_route=\/wp\/v2\/media\/155"}],"wp:attachment":[{"href":"https:\/\/twilabertrand.sites.c21.homes\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=154"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/twilabertrand.sites.c21.homes\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=154"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/twilabertrand.sites.c21.homes\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=154"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}