You may be surprised how your home value has increased. Since 2011 home values have increased significantly throughout the country, with prices rising by 5.1% in 2018 alone.
Top Reason Why Your Home Value Has Increased
When homeowners were surveyed, they revealed the top four reasons why they felt their homes had increased in value.
- Desirable Location
- Improved National Economy
- Improved Local Economy
- Low Home Inventory in My Area
During 2018, home values increased nationally by over 5%! The average homeowner gained $16,200 in home equity between the second quarter of 2017 and the second quarter of 2018 according to the latest release of CoreLogic’s Home Equity Report.
Selling Your Home in 2019
If you are planning on selling your home in 2019 you may be pleasantly surprised by how much your home has appreciated! So, what contributes to your home going up in value? A recent study shows that these are the top reasons:
- Location, location, location
- An improved national and local economy
- Improvements you have made to your home
- Low home inventory for sale in your area
If you are a homeowner who would like to find out your current home value, contact Wenzel Select Properties at (630) 430-4790 to discuss the hidden opportunities in your home!
Mortgage Rates Forecast
If you plan on buying a home this year, it doesn’t make sense to wait! Mortgage interest rates and home prices are both projected to increase as much as 5.3% throughout 2019.
2019 Mortgage Rates Projection
First Quarter (January-March): 4.9%
Second Quarter (April-June): 5.0%
Third Quarter (July-September): 5.2%
Fourth Quarter (October-December): 5.3%
On top of that, home prices are projected to be 4.8% higher by the end of the year. If the projects come true, your home will end up costing you significantly more the longer you wait.
Contact a Downers Grove Real Estate Agent
Whether you are buying or selling a home, Wenzel Select Properties thrives on finding you the best real estate solution. Our team at Wenzel Select Properties offers expert real estate assistance tailored to meet your unique needs. Our real estate agents excel at providing our clients with personalized support throughout the entire real estate experience. Contact Wenzel Select Properties at (630) 430-4790 and ask to speak with a real estate professional to assist you with buying or selling a home. We are conveniently located at 4941 Main Street in Downers Grove, Illinois.