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 - 13 of 13
1640 Kale Road -- 4 BR, 4.1 BA Price: $1,250,000 (5219 sqft) Subdivision: Saddlebrook → More info Sellstate Select | MLS # 3435660 | Coming soon
107 Paddle Loop -- 4 BR, 4.1 BA Price: $1,200,000 (4447 sqft) Subdivision: Lakewalk → More info EXP REALTY LLC | MLS # 3434719 | Contract
142 Oasis Drive -- 4 BR, 5.1 BA Price: $1,150,000 (11948 sqft) Subdivision: Stutts Cove → More info EXP REALTY LLC | MLS # 3430255 | Active
107 Beachview Drive -- 4 BR, 4.1 BA Price: $1,150,000 (3924 sqft) Subdivision: Isle of Pines → More info Ivester Jackson | MLS # 3434664 | Active
153 Fox Hunt Drive -- 4 BR, 5.1 BA Price: $1,095,000 (6591 sqft) Subdivision: Beacon Pointe → More info Keller Williams | MLS # 3434703 | Active
620 Lakeview Shores Loop -- 4 BR, 3.1 BA Price: $935,000 (5310 sqft) Subdivision: None → More info Keller Williams | MLS # 3434498 | Active
134 Thunder Hill Road -- 3 BR, 2.1 BA Price: $899,900 (1963 sqft) Subdivision: None → More info J Cash Real Estate | MLS # 3435829 | Active
3871 Fox Run -- 3 BR, 3 BA Price: $747,000 (3734 sqft) Subdivision: Westport → More info Keller Williams Realty | MLS # 3434987 | Active
233 Fernbrook Drive -- 5 BR, 3 BA Price: $675,000 (4190 sqft) Subdivision: Fernbrook → More info Lake Norman Realty, | MLS # 3370852 | Active
123 Strawpocket Lane -- 2 BR, 1.1 BA Price: $650,000 (1150 sqft) Subdivision: None → More info Allen Tate | MLS # 3434467 | Active
157 Peninsula Drive -- 3 BR, 3 BA Price: $510,000 (1913 sqft) Subdivision: Norman Shores → More info Southern Homes of the | MLS # 3434558 | Active
1188 Cartwright Drive -- 4 BR, 3.1 BA Price: $475,000 (3828 sqft) Subdivision: Caldwell Acres → More info LKN Property Pros LLC | MLS # 3433659 | Active
2194 Clyde Road -- 2 BR, 3 BA Price: $455,000 (2240 sqft) Subdivision: Other → More info Elite Properties, Inc. | MLS # 3362922 | Active
Cast off city living and choose Lake Norman waterfront living in this custom 5 bedroom/6.5 bath stucco and stone waterfront home in Mooresville. Great location, just a short walk to Lakeshore Elementary & Middle Schools. This Lake Norman waterfront foreclosure offers an elegant great room with double-sided fireplace, wood floors and floor to ceiling windows for amazing views of Lake Norman. Main floor master suite with custom master bath. Includes main floor office or library. Features formal dining room, inviting kitchen with granite countertops and breakfast bar for morning meals and afternoon snacks. Walk out basement with second living quarters, media room, wet bar, rec room and large covered patio.
Based on the last 6 months of Lake Norman waterfront sales, this property is priced 37% lower than the average price per square foot!
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 →