Homeowners: You Likely Have Tons of Equity

By Mark Callender

Hello, my name is Mark Callender and I am a licensed real estate agent with RE/MAX Results. Because I have been helping families buy and sell their homes for more than 18 years, I am now helping their children to buy their first homes and their parents to downsize. No matter the direction you’re moving, my goal is to make the process as calm and enjoyable as it can be.

Did you know that from June 2021 to June 2022, the average home appreciated by $64,000? Of course, this number depends on where you live and the condition of your property, but the fact remains that home values have increased like crazy over the last year. 

This rapid increase in property values is great news for homeowners, but it has some wondering if we’re about to see a huge correction. Will your home decrease in value just as rapidly as it increased?

It’s true that there have been a few price reductions in our area, but they have been minor, and they’re a sign that our market is normalizing, not crashing. The bottom line is that you likely have a ton of equity in your property. The smart thing to do is reinvest it, and now might be a fantastic time to invest in real estate. A few clients of mine have done this recently, and it has paid off greatly for them. 

If you have questions about today’s topic or anything else related to real estate, please call or email me. I am always willing to help!