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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
18525 Peninsula Club Drive -- 7 BR, 7.3 BA Price: $4,475,000 (8834 sqft) Subdivision: The Peninsula → More info Ivester Jackson | MLS # 3352109 | Active
19116 Peninsula Point Drive -- 6 BR, 5.1 BA Price: $2,299,000 (10021 sqft) Subdivision: The Peninsula → More info RE/MAX Executive | MLS # 3230985 | Active
18410 Balmore Pines Lane -- 5 BR, 4.1 BA Price: $1,999,000 (5090 sqft) Subdivision: The Peninsula → More info Carlyle Properties | MLS # 3351549 | Contract
19701 Bustle Road -- 4 BR, 3.2 BA Price: $1,599,000 (4226 sqft) Subdivision: Diane Shores → More info The Zientek Group | MLS # 3349494 | Active
161 Bay Shore Loop -- 4 BR, 5.1 BA Price: $1,350,000 (6148 sqft) Subdivision: Bay Crossing → More info Lawrie Lawrence Real | MLS # 3350544 | Active
101 Homer Lane -- 4 BR, 4.1 BA Price: $1,089,800 (5181 sqft) Subdivision: Sisters Cove → More info EXP REALTY LLC | MLS # 3351756 | Contract
322 Queens Cove Road -- 6 BR, 3.1 BA Price: $745,000 (3951 sqft) Subdivision: Queens Cove → More info Lake Norman Realty, | MLS # 3182546 | Contract
22501 John Gamble Road -- 3 BR, 2.1 BA Price: $665,000 (4041 sqft) Subdivision: Country Club Shores → More info Lake Realty | MLS # 3351205 | Active
232 Digh Circle -- 2 BR, 2 BA Price: $649,900 (2464 sqft) Subdivision: None → More info Allen Tate | MLS # 3346815 | Active
110 Shore Mist Court -- 3 BR, 2.1 BA Price: $625,000 (2752 sqft) Subdivision: The Highlands → More info Allen Tate | MLS # 3339111 | Active
21018 Rio Oro Drive -- 3 BR, 3 BA Price: $480,000 (3070 sqft) Subdivision: Bahia Bay → More info SECU*RE Inc. | MLS # 3352529 | 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 →