Linda Craft & Team, REALTORS® Commentary:
More Raleigh-area Resident Re-Evaluate their Home Equity
Over the last two years, the United States real estate market improved significantly, but not as quickly as the Raleigh-Durham-Chapel Hill area. Several factors, including fewer distressed property sales, high demand, and constrained inventory, drove the average home sale price up. As home prices rose, homeowners began regaining equity in their homes. In 2013, more than three million homeowners regained equity. In light of the conditions, many homeowners are beginning to reevaluate their home equity.
“Recently, the large increases in home prices have received a lot of media attention in the greater-Triangle area,” said Linda Craft, CEO of Linda Craft & Team, REALTORS® & Certified Distressed Property Expert (CDPE). “Many homeowners are wondering whether or not they should reassess the equity they have in their home. With how much things have improved in recent years, it’s definitely a good idea.”
“The market currently favors sellers, and people are often shocked to find out just how much their homes are worth. Homeowners who have been underwater on their mortgages are discovering they have equity for the first time in years.“ Craft said.
The CDPE designation provides real estate agents with the tools and knowledge needed to efficiently, ethically and effectively pursue foreclosure alternatives, specifically short sales. In addition to their initial training, CDPE-designated agents are connected to a network of professionals via the Charfen Institute, allowing them to remain regularly updated on the complex and quickly changing real estate market. The free report entitled “When was the last time you reevaluated your home equity?” is accessible from her website, http://www.raleighrealestateforeclosures.com at: http://www.raleighrealestateforeclosures.com/Equity-Check-Up.aspx.