We have all heard the positive news lately, whether it be in the media or from our friends and families — Real Estate home values and sales have been on the rise over the past 12 months.
With the low number of homes for sale, prices on the rise, historically low interest rates, and a boost in consumer confidence, the real estate market is a great reason for Dad to put up his feet and relax this Father’s Day! Albeit, home values are not where they were back in 2007, but there are certainly many indicators to be optimistic about the future of homeownership as well as the economy.
With the rise in home values, homeowners are regaining equity, which gives them more flexibility and options when it comes to managing this important family asset.
If you’re considering selling your home in order to move up, downsize, or relocate, NOW is a great time to do so. With low inventory levels, this is a seller’s market.
Or, if you simply want to update or remodel your home, having more equity makes it a more attractive time to add the new deck, finish off the basement, or update the kitchen that you have been waiting to do.
Still, some homeowners are “upside down” in their homes and need options to get out of what may seem like a hopeless situation. Fortunately, there are refinance and short sale programs available (like HAFA) that can provide relief to homeowners who require assistance.
So, while we are not all totally out of the woods, we have good reason to celebrate and feel encouraged this Father’s Day. Certainly we have come a long way in our recovery of homeownership and real estate values over the past year. Let’s hope the market remains strong and gives Dad a reason to kick up his heels and celebrate again by Father’s Day 2014!