What is Your Home Worth? & How Much Equity Do You Have?
You might be wondering how much your home is worth right now and how much equity you have. We have a tool that can tell you that in just seconds. And it’s completely free! Here’s what you can find out in our home valuation report:
The estimated value of your home
How much equity you have & how you can use that equity
How much you’ve paid towards principal vs interest
How much you could afford if you bought another home
How much you could earn if you rented out your home
Here’s a preview of what your report will look like:
What is equity?
Equity is the difference between what you owe on your mortgage and what your home is currently worth.
Home equity is the value of your ownership stake in your home. You can calculate it by subtracting the amount you owe on all loans from the property's market value.
If you owe $100,000 on your mortgage loan and your home is worth $200,000, you have $100,000 in equity.
Why Sell Now?
While inventory is increasing, the current market conditions are still favoring sellers. We have become used to seeing homes flying off the market in the first 24 hours of being listed in recent years. So it’s easy to think that if your home doesn’t sell that quickly now that you missed the market or that it’s not the right time to sell. However, this is still a good time to sell, it just might take a little bit longer than it would have 6 months ago.
If you have questions about your report and want to talk about potentially selling your home, give us a call! We have fantastic agents ready to help you through the entire process.