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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 - 14 of 14
16446 Pinwhenny Road -- 5 BR, 5.2 BA Price: $2,790,000 (6280 sqft) Subdivision: None → More info Ivester Jackson | MLS # 3461940 | Active
100 Brownstone Drive -- 5 BR, 5.2 BA Price: $2,399,000 (7435 sqft) Subdivision: The Point → More info Southern Homes of the | MLS # 3464346 | Active
17812 John Connor Road -- 4 BR, 4.1 BA Price: $2,100,000 (4690 sqft) Subdivision: The Peninsula → More info Ivester Jackson | MLS # 3459961 | Active
4310 Artesian Cove -- 4 BR, 3.1 BA Price: $1,499,900 (5526 sqft) Subdivision: Sailview → More info Berkshire Hathaway | MLS # 3465960 | 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 | Active
143 Sienna Lane -- 4 BR, 2.1 BA Price: $1,200,000 (4059 sqft) Subdivision: Pinnacle Shores → More info Lake Homes Realty LLC | MLS # 3463730 | Active
2709 Westview Drive -- 4 BR, 3 BA Price: $1,150,000 (5846 sqft) Subdivision: Island Point → More info Carolina Real Estate | MLS # 3459458 | Active
21405 Baltic Drive -- 4 BR, 3.1 BA Price: $914,900 (3193 sqft) Subdivision: Captains Point → More info Puma & Associates | MLS # 3456401 | Active
177 Patternote Road -- 3 BR, 3 BA Price: $899,000 (3076 sqft) Subdivision: Crescent Land and Timber → More info Keller Williams Lake | MLS # 3462851 | Contract
9013 Clement Circle -- 3 BR, 3.1 BA Price: $745,000 (3279 sqft) Subdivision: None → More info Keller Williams Realty | MLS # 3463457 | Coming soon
208 High Lake Drive -- 3 BR, 3.1 BA Price: $650,000 (3409 sqft) Subdivision: Harbor Watch → More info Keller Williams | MLS # 3464248 | Active
171 Binns Road -- 3 BR, 2 BA Price: $619,000 (674 sqft) Subdivision: None → More info EXP REALTY LLC | MLS # 3296186 | Contract
4730 Lazy Lane -- 3 BR, 2 BA Price: $395,000 (1670 sqft) Subdivision: Cozy Cove → More info Exit Realty Elite | MLS # 3464362 | Active
4851 Emma Love Drive -- 2 BR, 2 BA Price: $204,900 (980 sqft) Subdivision: None → More info Newmel Properties | MLS # 3463381 | 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 →