|Is home value finally right side up?|
Last week, the stock market topped its own record by setting a new all-time high. A record, previously unbeaten since 2007’s record high. Though this hasn’t affected the debacle our national budget is in or corrected our path towards another fiscal cliff, it has left hope in the eyes of the housing industry, and buyers and sellers are reaping the benefits of it.
The economy is slowly recovering, but the recovery of our housing market appears to be in full swing. Sonoma County housing grew by an average of 13 percent in 2012, and analysts feel we may see another double-digit increase this year. Although I cringe at another year like last and feel we need to truly see no more than a healthy 6-8 percent price growth to make sure we don’t end up down the same destructive path we just came from, I am optimistic we have truly seen the lowest of the housing market.
As I mentioned in my last article, now is the perfect time to get an evaluation on your home and see where you are in today’s market. Even if you are not selling for a few years or only bought a few years ago, getting an updated value may help you in considering a refinance, getting rid of PMI, or just giving you some peace of mind that the biggest investment of your life is finally paying for itself. Call a local realtor who knows the area and have them do a free market analysis of your home. Trust me, you’ll sleep better tonight.
And that's my 2 cents worth.
Ken Schrier is a licensed Realtor and Certified Distressed Property Expert working locally for RE/MAX PROs. His focus is working with Buyers and Sellers throughout Rohnert Park, Penngrove, and Cotati. He can be reached at 707-529-4819 or through his website at www.KenSchrier.com.