Southern California has seen home prices appreciating at steady levels in recent years. It may be great time to look at some of the new opportunities that are presenting themselves to current Southern California homeowners in 2014.
Back in 2011 & 2012 we had some of our clients purchasing homes with great rates and reasonable home prices. However, their intention was to move into a larger home for their growing families. With the the strong housing marketing over the last few years, it has provided some homeowners with a great opportunity to take advantage further increasing home values. Cashing in on the larger equity position allows them to put more money down on larger homes, while keeping their monthly mortgage liability affordable.
Another scenario where increasing home values have applied to our clients are homeowners that were not able to refinance based on your homes value in 2012 or their mortgage did not qualify for the HARP refinance. If you see on the chart I have provided you will see that the San Gabriel Valley area has increased 15% in median sales price from 2012 to 2013. Just because your home has not been upgraded or landscaped does not mean the value has not increased. Whether you are saving $100 or $500, the long-term savings of refinancing now could mean thousands of dollars in your pocket.
Inquire today, so we can help you save for the future.