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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 - 18 of 18
145 Old Post Road -- 4 BR, 6.1 BA Price: $2,699,000 (8142 sqft) Subdivision: The Point → More info Ivester Jackson | MLS # 3444041 | Active
123 Lynnfield Court -- 5 BR, 5.1 BA Price: $2,299,000 (6260 sqft) Subdivision: The Point → More info Ben Bowen Properties | MLS # 3435158 | Active
18528 Nantz Road -- 4 BR, 4.1 BA Price: $1,799,000 (4945 sqft) Subdivision: None → More info Premier Sothebys | MLS # 3397526 | Active
20552 Southshore Drive -- 5 BR, 3.1 BA Price: $1,399,000 (5173 sqft) Subdivision: Sawyers Landing → More info Premier Sothebys | MLS # 3442651 | Active
8791 Colebridge Court -- 5 BR, 6.1 BA Price: $1,325,000 (5754 sqft) Subdivision: Northview Harbour → More info Keller Williams | MLS # 3391509 | Active
7425 Windaliere Drive -- 4 BR, 3.1 BA Price: $1,250,000 (3817 sqft) Subdivision: Sterling Pointe → More info Lake Realty | MLS # 3445438 | Active
127 Spring Oaks Drive -- 3 BR, 3 BA Price: $1,150,000 (3231 sqft) Subdivision: None → More info The Allen Team Inc | MLS # 3444146 | Active
8017 Blue Water Court -- 3 BR, 2.1 BA Price: $869,000 (2411 sqft) Subdivision: Westport Peninsula → More info Hecht Realty, Inc | MLS # 3442170 | Active
111 Sienna Lane -- 4 BR, 4 BA Price: $845,000 (4264 sqft) Subdivision: Pinnacle Shores → More info Lead 2 Real Estate | MLS # 3444343 | Active
6980 Golden Bay Court -- 4 BR, 3 BA Price: $710,000 (2956 sqft) Subdivision: Bay Pointe → More info Keller Williams | MLS # 3443002 | Active
21036 Rio Oro Drive -- 3 BR, 3.1 BA Price: $649,900 (2519 sqft) Subdivision: Bahia Bay → More info Keller Williams | MLS # 3445123 | Active
4546 Burris Road -- 4 BR, 3 BA Price: $599,000 (2751 sqft) Subdivision: None → More info USRealty.com, LLP | MLS # 3444079 | Active
4689 Mccorkle Lane -- 3 BR, 1.1 BA Price: $499,000 (1235 sqft) Subdivision: Mccorkle → More info EXP REALTY LLC | MLS # 3361757 | Active
141 Brookridge Lane -- 3 BR, 2 BA Price: $479,000 (1246 sqft) Subdivision: Brookridge Shores → More info Coldwell Banker | MLS # 3444373 | Active
136 Marina Lane -- 3 BR, 2 BA Price: $465,000 (1550 sqft) Subdivision: Commodore Peninsula → More info Redfin Corporation | MLS # 3441174 | Active
105 Hideaway Lane -- 4 BR, 2.2 BA Price: $395,000 (627 sqft) Subdivision: None → More info Keller Williams | MLS # 3309706 | Active
111 Milledge Drive -- 2 BR, 1 BA Price: $390,000 (1254 sqft) Subdivision: None → More info Lake Realty | MLS # 3444211 | Active
4742 Lazy Lane -- 3 BR, 2 BA Price: $275,000 (1512 sqft) Subdivision: Cozy Cove → More info Keller Williams | MLS # 3443523 | 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 →