You have probably heard that homeowners today have record amounts of equity. But what does that actually mean for you?
Equity isn't just a number on a spreadsheet—it is a powerful financial asset that can help you take your next big step in life.
Curious about how much wealth is hiding in your home right now? Call Kim at 206-225-8325 for a free market analysis. I can give you an accurate estimate of your current equity position.
How Much Equity Do You Really Have?
As you pay down your loan and home prices rise, your equity grows. According to Census and ATTOM data, two-thirds of homeowners are sitting on a substantial amount:
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39% own their home outright (no mortgage).
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27% have at least 50% equity.
In real dollars, CoreLogic estimates the typical homeowner has almost $300,000 in equity today. That is a six-figure safety net.
4 Ways to Put Your Equity to Work
Whether you are in Tacoma, Puyallup, or Auburn, that equity can open doors. Here is how:
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Right-Size Your Life: Use your equity as a massive down payment (or even all-cash) to buy a home that fits your current needs in Sumner or Bonney Lake. Call Kim for a free buyer consultation to see how far your equity can take you in today's market.
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Renovate & Reinvest: Not ready to move? Reinvest in your current home. Updates like a modern kitchen or bathroom can add significant value when you eventually sell in SeaTac, Des Moines, or Burien.
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Fund a Major Goal: Start a business, pay for education, or help a loved one with their down payment.
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Create a Safety Net: If times get tough, selling your home allows you to unlock that cash and avoid foreclosure, unlike in 2008.
If you are thinking about selling to access your cash, you need a strategy. Call Kim for a unique marketing plan for getting your home sold to ensure you walk away with the maximum possible check.
The Golden Rule: Keep a Cushion
Before you tap into this resource, you need a plan. Financial experts recommend maintaining at least 20% equity in your home as a safety cushion. The good news? Most homeowners today are well above that threshold.
What is Your Home Worth Right Now?
To make smart decisions, you need accurate numbers.
As Kim Morgan Storey, the Top #1 Real Estate Agent, I specialize in helping homeowners assess and strategize their equity. I can show you exactly how much "tappable" wealth you are sitting on.
Proudly serving: Tacoma, Puyallup, Auburn, Sumner, SeaTac, Des Moines, Burien, Normandy Park, Lake Tapps, and Bonney Lake.
The Bottom Line
Your home is more than a place to live; it is a financial powerhouse. Let’s find out what it can do for you.
Unlock your home's potential. Call Kim today at 206-225-8325!
Serving the Greater Seattle Area: King, Pierce & Snohomish Counties
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