As 2015 is wrapping up, the Zionsville, IN real estate market has something to cheer about. There has been steady growth in your home’s equity, according to new data from the Federal Reserve. Home equity is the difference between the market resale value of your Zionsville, IN home and the mortgage debt you have against it.
Between the third quarter of 2014 and the same period in 2015, American’s home-equity holdings grew by nearly $1.3 trillion, due mainly to rising home prices. Zionsville, IN shared in this wealth and has seen tremendous growth over the last year.
This growth has helped many homeowners crawl out from being underwater on their home. Underwater means you are upside down – with mortgage balances that exceed your property value. As more homeowners come out of upside down mortgages this brings more good news to the Zionsville, IN real estate market. Why? Because negative equity stops up the housing system and the economy as a whole. Less upside down mortgages means more growth and movement in the market. Read more at The Washington Post, with any luck 2016 will be just as fruitful for Zionsville, IN homeowners.
When you are ready to sell your Zionsville, IN home, contact a Zionsville, IN real estate agent. We are committed to providing you with the highest quality service. You deserve to have all the latest market information and the very best advice, both of which we can provide you with. We hope to speak with you soon!
Rodney & Amanda Heard
Heard Real Estate Team