Today we’re talking about homeowners who are underwater- they owe more on their home than it’s worth.
Zillow recently released a report on the low levels of homes on the market. One of the reasons we have such low inventory is homeowners who feel they are underwater are not putting their homes on the market.
The good news is that low inventory means more demand for homes, so prices have actually increased over the last couple years.
In other words, your home may be worth more than you think. In some areas we’re even seeing home prices regain the levels seen at the peak of the housing market in 2007.
If you’ve been underwater on your mortgage, now is the time to double-check your home value. Rates are still historically low, so if your home value has recovered, it’s a perfect time to move out or move up and lock in a great low rate.
To request a FREE Home Value Report, simply click (here)[http://www.servingsaltlake.com/sell/].
Thanks for watching and as always, if you’re looking to buy or sell a home in Salt Lake County or the Wasatch Front, we’d love to hear from you!