We’re on site here at one of our newly rehabbed listings here in Gilbert. The owner’s goal was to get the highest return on investment possible, so we put our all-star team together and did a three-week rehab.
We’d love to help you do the same thing.
We did painting, flooring, added new light fixtures, and made some repairs. Now we’re ready to sell it for top dollar. If netting the most amount of money is what’s most important to you in your home sale, give us a call or send us an email today. We can come out and take a look and let you know how you can maximize your sale price.
If you have any other questions or real estate needs, don't hesitate to reach out to us. We'd be happy to help you.
Do you notice that pile of cash you're sitting on right now?
I'm not joking. 42 million homeowners with mortgages have equity in their home right now.
When added up, tappable home equity recently reached $5.5 trillion. That's about $3 trillion more than when the housing market bottomed out in 2012. "Tappable equity" is defined here as the amount a homeowner could borrow before they hit 80% of debt to value.
Not surprisingly, many homeowners are looking to tap into these hidden reserves. As just one sign of this, mortgage applications are up 4.1% this January over last year. That's mostly been driven by mortgage refinances, as homeowners are looking to take advantage of low (but increasing) rates to take out some of that equity as cash.
Another option to a mortgage refinance is a home equity line of credit (HELOC), a kind of checking account on your home. While HELOCs have been growing in popularity, they've hit a slight snag recently because the new tax bill eliminates the deductions for interest paid on such lines of credit.
“
Many homeowners are tapping into their equity now.
”
What are homeowners who tap into their equity actually doing with the extra cash? Most people are spending it on making their homes even more valuable. According to one survey, 80% of borrowers would consider using that cash to renovate their home.
However, other homeowners are using their home equity to cover education expenses, to pay down other debt, or simply for investing, whether in stocks, real estate, or even cryptocurrencies.
So should you tap into your home equity?
I can't say either yes or no. It’s something you’ll have to decide on your own. However, if you have any questions or would like us to take a look at your specific situation to see what your best move is, we would be glad to help. Don’t hesitate to give me a call or send me an email any time.
I have some exciting news regarding cash offers: I have a buyer looking to purchase properties in the Phoenix area—upwards of 100 to 150 properties.
Cash buyers make it very simple for sellers. When you accept an offer from a cash buyer, you won’t
have to go through the hassle of putting it on the market, having to clean it up for showings, or having to stage it.
Cash buyers make the process simple for sellers.
I can help find a cash buyer and make the close of escrow a lot shorter. You’ll still have your needs as a seller met, and you can still sell it right at market value.
If you’re interested in selling your home and would like to explore the option of a cash buyer, we can set up a time to talk about your situation and the options available to you. Feel free to reach out to me. I’d be glad to help.
