Saturday, January 26, 2013

Home Values Way Up in Los Angeles - At Least Some Parts

 Los Angeles Home Values Are Going Up


Have you checked out your home value on Zillow.com lately.  You may be in for a shock.  Some homes are up 10% or more in just the last six months.  For a $500,000, home that can mean $50,000 of new equity.  That increase has many ramifications:
  • You may no longer be upside down in your home value compared to loan amount
  • You may be in a position to sell with enough equity to buy something else
  • You may be able to use your home equity as an investment vehicle for income property
  • You may be able to afford the home improvement or remodel you've been putting off.
And to make things even better, loan rates for mortgages remain at historic lows.  You may be able to accomplish some of the items in the above list with no increase in your loan payments.  If your interest rate is currently above 4.3%, you should consider refinancing even if you don't want cash out for a new kitchen.

We are making lots of loans right now.  Give me a call if I can be of help with a new mortgage.

Bill