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How to sell your house and put your home equity to work for you!

Friday, October 16, 2020   /   by Vanessa Saunders

How to sell your house and put your home equity to work for you!


By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.

We blogged yesterday how homeowners with equity in their homes (Equity is an appreciation of value caused by either payments on principal or the increased market value of a property) has kept people from selling their home. We pointed out that homeowners who are choosing to sit rather than move are impacting the Hudson Valley real estate market by causing a lack of homes (real estate inventory) for sale. But don’t get us wrong. Equity isn’t always a bad thing.

Turns out it’s great for homeowners.

As average homeownership lengthens and home prices go up, equity, which is a form of forced savings, can be applied toward the purchase of a new home. A recent study by CoreLogic https://www.corelogic.com/insights-download/homeowner-equity-report.aspx

CoreLogic explains:

“Over the past 10 years, the equity position of homeowners has positively changed as a result of more than eight years of rising home prices. As the economy climbed out of the recession in the first quarter of 2010, 25.9% or 12.1 million homes were still underwater, compared to the first quarter of 2020 when the negative equity share was at 3.4%, or 1.8 million properties. Borrowers have seen an aggregate increase of $6.2 trillion in home equity since the first quarter of 2010 and the average homeowner has gained about $106,100 in equity.”

Having significant equity in a home lets owners sell at a profit and buy a larger or better home for their needs. The average home sale price increase from last year gave its sellers a profit of over $75,000, up from $66,500 in Q1 of last year.

With average home sale profits growing, it’s a great time to leverage your equity and make a move, especially while the inventory of houses for sale and mortgage rates are historically low. If you’re considering selling your house, CONTACT a Global Property Systems local area expert today to see how much you can afford to put toward your next dream home!


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Global Property Systems
Vanessa Saunders MBA MIMC CIPS - NYS RE Principal Broker
56 Lafayette Avenue Suite 320
White Plains, NY 10603
914-290-5258


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The information appearing herein has not been verified by One Key, Inc or by any individual(s) who may be affiliated with said entities, all of whom hereby collectively and severally disclaim any and all responsibility for the accuracy of the information appearing at this web site, at any time or from time to time. All such information should be independently verified by the recipient of such data. This data is not warranted for any purpose.

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The data relating to real estate on this website comes, in part, through the IDX of the Multiple Listing Service of Ulster County, Inc. Real estate listings held by brokerage firms other than Vanessa Saunders - Global Property Systems are marked with the IDX logo and detailed information about them includes the name of the listing broker.
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