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PROFESSIONAL EQUITY ASSESSMENT
Understanding the Pear
A Professional Equity Assessment Report (PEAR) is a custom evaluation of your home’s cash value. By knowing what you currently owe on your mortgage and estimating the value of your home, we can determine your home’s approximate equity. This is a powerful tool to help you make confident decisions in your home selling process.
FOR MANY HOUSEHOLDS, HOME EQUITY IS THE ONLY SOURCE OF WEALTH CREATION... RECORD EQUITY CONTINUES TO PROVIDE FUEL FOR HOUSING DEMAND.
SELMA HEPP, CORELOGIC
WHAT IS HOME EQUITY?
Are you on the fence about selling your house? While affordability is improving, it’s still tight. And that may be on your mind. But understanding your home equity could be the key to making your decision easier. An article from Bankrate explains:
“Home equity is the difference between your home's value and the amount you still owe on your mortgage. It represents the paid-off portion of your home.
You'll start off with a certain level of equity when you make your down payment to buy the home, then continue to build equity as you pay down your mortgage. You'll also build equity over time as your home's value increases.”
Think of equity as a simple math equation. It's the value of your home now minus what you owe on your mortgage. And guess what? Recently, your equity has probably grown more than you think.
In the past few years, home prices skyrocketed, which means your home's value – and your equity – likely shot up, too. So, you may have more equity than you realize.
Roughly 70% of Homeowners Have a Tremendous Amount of Equity
Clearly, homeowners have a lot of equity right now. And the latest data from the Census and ATTOM shows over two-thirds of homeowners have either completely paid off their mortgages or have at least 50% equity. Take a look at this short video to find out more.
Get your free PEAR including a Home Valuation.
Let's Connect.
Planning a move? Your home equity can really help you out. Let’s connect to see how much equity you have and how it can help with buying your next home.
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3343 Peachtree Rd. Ste. 145-637 Atlanta, GA .30326