Have You Outgrown Your Starter Home in the Valley?For many of us, buying our first home is the first taste of achieving part of the American Dream. There is a sense of pride that comes along with
Have You Outgrown Your Starer Home In The Valley
Have You Outgrown Your Starter Home in the Valley?
For many of us, buying our first home is the first taste of achieving part of the American Dream. There is a sense of pride that comes along with owning your own home and building your family’s wealth through your monthly mortgage payment.
It may seem hard to imagine that the first home you purchased might not be the home that will allow you to achieve the rest of your dreams. The good news is that it’s ok to admit that your home no longer fits your needs!
According to CoreLogic’s latest Home Price Index, prices in the starter home market have appreciated faster over the last year, at 9.4%. At the same time, inventory in this category has dropped 14.2%.
These two stats are directly related to one another. As inventory has been at an all-time low and demand has increased, prices have gone up.
This is great news if you own a starter home and are looking to move up to a larger home as the equity in your home has risen as prices have gone up. Even better is that there is a large pool of buyers out there searching foryourstarter home to help them achieve their American Dream!
If you have outgrown your starter home, contact us to see how we can help you get the best value out of your house and find your next home!
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