Equity can be loosely defined as the value of your house minus how much you owe on the mortgage. Which means, as you make your monthly mortgage payments, you're gaining a larger share of your home's value. In addition, if your home's price goes up, so does your equity. Ultimately, the more you have, the better. That's why the numbers from ATTOM Data Solutions' Q2 2017 U.S. Home Equity & Underwater Report are good news for homeowners. The report shows more than 14 million U.S. properties were equity rich, meaning their remaining mortgage amount was 50 percent or less than the estimated value of their house. That's 320,000 more than the previous quarter and nearly 25 percent of all U.S. properties with a mortgage. Daren Blomquist, senior vice president at ATTOM, says there are a couple of reasons behind the improvement. “An increasing number of U.S. homeowners are amassing impressive stockpiles of home equity wealth, enjoying the benefits of rapidly rising home prices while staying conservative when it comes to cashing out on their equity – homeowners are staying in their homes nearly twice as long before selling as they were prior to the Great Recession, and the volume of home equity lines of credit are running about one-third of the level they were at during the last housing boom,” Blomquist says. This is also what is being seen in Eastern, NC. Homebuyers are happy in their homes and do seem to be staying longer and with incentive programs and down payment programs in place like Eastern, NC has, many new buyers are able to get into the housing market at a good price and this is certainly helping them to start gaining equity much quicker. To see some of the homes available in this area go to: http://www.firstcarolina.com/listings/ or join social media at: https://www.facebook.com/fcrhavelock/. More here. 

Home Equity In Eastern, NC

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