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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 - 11 of 11
179 Milford Circle -- 5 BR, 5.4 BA Price: $3,500,000 (8946 sqft) Subdivision: The Point → More info Trump International | MLS # 3452327 | Active
118 Whaling Lane -- 4 BR, 4.1 BA Price: $1,475,000 (4758 sqft) Subdivision: The Point → More info Southern Homes of the | MLS # 3445996 | Coming soon
138 Yacht Road -- 4 BR, 6.1 BA Price: $1,345,000 (5383 sqft) Subdivision: The Point → More info Trump International | MLS # 3211361 | Active
6676 Goose Point Drive -- 4 BR, 5.2 BA Price: $1,130,000 (5306 sqft) Subdivision: Pebble Bay → More info Lake Norman Realty, | MLS # 3396476 | Active
209 Westpaces Road -- 3 BR, 3.1 BA Price: $975,000 (3552 sqft) Subdivision: West Paces → More info Donihee Realty Group | MLS # 3448240 | Active
169 Lake Pine Road -- 4 BR, 3.1 BA Price: $935,000 (3969 sqft) Subdivision: Pine Isle → More info Southern Homes of the | MLS # 3446381 | Active
3919 Cindy Lane -- 4 BR, 4.1 BA Price: $899,900 (3786 sqft) Subdivision: Webbs Chapel Cove → More info Sellstate Select | MLS # 3424470 | Active
6885 Kingfisher Court -- 4 BR, 3.1 BA Price: $899,000 (4264 sqft) Subdivision: Harbor Oaks → More info Magnolia Real Estate | MLS # 3451340 | Coming soon
8222 Malibu Pointe Lane -- 3 BR, 3.1 BA Price: $869,000 (3838 sqft) Subdivision: Gabriel Point → More info The Signature Group | MLS # 3451722 | Active
3977 Burton Lane -- 3 BR, 4.1 BA Price: $558,900 (3790 sqft) Subdivision: Westport Peninsula → More info RE/MAX Executive | MLS # 3452167 | Active
185 Abington Lane -- 3 BR, 2 BA Price: $215,000 (1583 sqft) Subdivision: Unknown → More info Doug Madison Realty | MLS # 3395527 | 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 →