As
we finish out 2015, the
Boston,
MA
real estate market
has something to cheer about. There has been steady growth in your
home's equity, according to new data from the Federal Reserve. Home
equity is the difference between the market
resale value of your Boston,
MA
home
and the mortgage debt you have against it.
Between
the third quarter of 2014 and the same period in 2015, American's
home-equity holdings grew by nearly $1.3 trillion, due mainly to
rising home prices. Boston,
MA
shared in this wealth and has seen tremendous growth over the last
year.
This
growth has helped many homeowners crawl out from being underwater on
their home. Underwater means you are upside down – with mortgage
balances that exceed your property value. As more homeowners come out
of upside down mortgages this brings more good news to the
Boston,
MA
real estate market.
Why? Because negative equity stops up the housing system and the
economy as a whole. Read
more at The Washington Post, with any luck 2016 will be just as
fruitful for Boston,
MA
homeowners.
If
you are looking to enter
the Boston,
MA
real estate market in 2016,
please be sure to contact
a Boston,
MA
real estate agent.
I am happy to help you find the perfect home for you!
Lucas
Garofalo
Keller
Williams Realty
(617)
861-3631
Connect
with me:
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