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Over the next five years, home prices are expected to appreciate on average by 3.35% per year and to grow by 24.34% cumulatively, according to Pulsenomics’ most recent Home Price Expectation Survey.
So, what does this mean for homeowners and their equity position?
As an example, let’s assume a young couple purchases and closes on a $250,000 home this month (January). If we only look at the projected increase in the price of that home, how much equity will they earn over the next 5 years?
Since the experts predict that home prices will increase by 4.2% in 2018, the young homeowners will have gained $10,500 in equity in just one year.
Over a five-year period, their equity will increase by nearly $45,000! This figure does not even take into account their monthly principal mortgage payments. In many cases, home equity is one of the largest portions of a family’s overall net worth.
Not only is homeownership something to be proud of, but it also offers you and your family the ability to build equity you can borrow against in the future. If you are ready and willing to buy, find out if you are able to today!
Mortgage Rates Hit A New Three-Year Low As Brexit Looms Forbes Mortgage rates fell for the second week, averaging 3.54 percent, down from 3.60 percent. A year ago at this time, a 30-year, fixed-ratehome loan was 4.0 percent, according to Freddie Read more …
If you need a mortgage contact in the Lake Norman area please let us know and we will introduce you to one of our trusted lenders.
Lake Norman waterfront homes just listed for sale in the Lake Norman MLS. Waterfront homes for sale in Huntersville, Cornelius, Mooresville, Troutman, Statesville, Terrell, Sherrills Ford, Denver, Stanley & Catawba. Homes for sale on Lake Norman that just came on the market.
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Lake Norman homes for sale
Listings 1 - 12 of 12
17601 Westward Reach Road -- 5 BR, 4.1 BA Price: $1,999,000 (6590 sqft) Subdivision: The Peninsula → More info Allen Tate Lake Norman | MLS # 3360550 | Active
215 Homer Lane -- 4 BR, 4.1 BA Price: $1,299,305 (5181 sqft) Subdivision: Sisters Cove → More info EXP REALTY LLC | MLS # 3362101 | Active
8035 Bay Pointe Drive -- 6 BR, 5.1 BA Price: $875,000 (5027 sqft) Subdivision: West Bay → More info Roost Real Estate | MLS # 3360669 | Active
2727 Sherrill Cove Way -- 3 BR, 2.1 BA Price: $839,900 (3604 sqft) Subdivision: None → More info Ivester Jackson | MLS # 3361753 | Active
475 Big Indian Loop -- 3 BR, 3 BA Price: $825,000 (3098 sqft) Subdivision: None → More info Keller Williams | MLS # 3359854 | Active
161 Castles Gate Drive -- 3 BR, 2.1 BA Price: $780,000 (2416 sqft) Subdivision: Morrison Cove → More info EXP REALTY LLC | MLS # 3360780 | Active
314 Beaten Path Road -- 3 BR, 3.1 BA Price: $765,000 (4198 sqft) Subdivision: None → More info Allen Tate Lake Norman | MLS # 3352453 | Active
130 LOCHFOOT Lane -- 4 BR, 3 BA Price: $699,000 (3303 sqft) Subdivision: None → More info Mooresville Realty LLC | MLS # 9594549 | Active
5176 Glenwood Street -- 3 BR, 2 BA Price: $650,000 (2826 sqft) Subdivision: Unknown → More info Hecht Realty, Inc | MLS # 3358405 | Active
456 Wildlife Road -- 3 BR, 4 BA Price: $639,900 (4757 sqft) Subdivision: None → More info Don Anthony Realty, | MLS # 3361479 | Active
135 Barber Loop -- 2 BR, 2 BA Price: $599,500 (1636 sqft) Subdivision: None → More info Allen Tate | MLS # 3348534 | Active
3589 Little Road -- 2 BR, 2 BA Price: $299,900 (1100 sqft) Subdivision: Property of H.C. Sherrill Co → More info Your Hometown Realty | MLS # 3359816 | Active
Which tax benefits do home owners miss? Will you get audited if you take the home office deduction? Find out the answers to these questions and more before Tax Day.
There are a lot of home ownership tax benefits — if you don’t forget to take them. To make sure you get your due, HouseLogic asked tax expert Abe Schneier, a senior technical manager with the American Institute of CPAs, for tax-filing tips.
HouseLogic: What’s the most common home-related tax deduction or credit claimed by home owners?
Abe Schneier: The mortgage interest deduction, [which the NATIONAL ASSOCIATION OF REALTORS® estimates amounts to about $3,000 in tax savings for the average itemizing home owner] and [the deduction for] real property taxes. Continue reading →