Is Now the Time to Cash Out?

You may have more equity in your home than you realize!  That’s great but what does it mean for you?  Equity is inherently challenging to track; nobody sends you a monthly accounting and you can’t just go look it up somewhere.  Most of us don’t have a good grasp on our home’s market value.  Researchers found that 57 percent of owners believe their home value has increased since 2012, 80 percent of them underestimate how much it’s actually risen. Every homeowner should be aware of the true equity in their house and also realize the opportunities that go along with it.  If you are unsure of the savings you currently have built up in your home, contact the Finn Team to help you find out how much values have risen.

As you may have noticed, we have had a recent surge in home values in Oakley (as well as other neighborhoods).  Here is a short list of some Pending Sales and Sold Homes:

3732 Drake Ave:  3 Bed/2 Full, 2 Half Bath, $565,000 (SOLD)

3871 Drakewood:  3 Bed/1.5 Bath (additional 1/2 in basement)  1,654 sq.ft. $445,000 (SOLD)

3771 Hyde Park Ave: 4 Bed/2.5 Bath, 2,365 sq.ft. $430,000 (SOLD)

4306 Millsbrae Ave: 3 Bed/2.5 Bath (1/2 in basement) 1,950 sq.ft. $409,900 (PENDING)

3773 Drakewood Ave:  4 Bed/3 Full Bath, 2,505 sq.ft. $395,500 (PENDING)

2901 Markbreit Ave:  4 Bed/3 Full Bath, 2,306 sq.ft. $395,000 (SOLD)

2935 Minot Ave:  4 Bed/4.5 Bath, $380,000 (PENDING)

3751 Drake Ave:  4 Bed/2 Full Bath, 1,615 sq.ft. $380,000 (PENDING)

3855 Hyde Park Ave:  3 Bed/2.5 Bath, 1,531 sq.ft. $349,000 (SOLD)

2824 Inverness Ave:  3 Bed/1.5 Bath, 1,416 sq.ft.  $339,000 (PENDING)

4220 Eileen Ave:   4 Bed/2.5 Bath, 2,074 sq.ft. $335,000 (PENDING)

4117 Sherel Ln:  3 Bed/1 Full Bath (1/2 bath in basement), 1,679 sq.ft. $289,900 (PENDING)

Link to MLS report with Oakley Active, Pending, Sold in the last 6 months

Article from the National Association of Realtors:  http://realtormag.realtor.org/daily-news/2016/02/22/owners-have-more-equity-they-realize

The combination of low inventory, low interest rates, and high Buyer demand has created this Seller’s market right now.  The question we are being asked is “how long will this last?”.  No one knows, and as soon as any of those variable change, the market will begin to adjust as well.  Now could be your best time to sell.  Let us discuss your options with you!

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Finn Team, Coldwell Banker West Shell:  513.560.6513  holly.finn@cbws.com

www.Finn-Team.com

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