If you have been reading the headlines lately, you might be worried that your home is losing value. It is a valid concern, but the reality is much different than the "doom and gloom" you see in the news.
While some overheated markets are seeing small dips, home prices are not falling nationally. In fact, the vast majority of the country is seeing prices rise.
As Kim Morgan Storey, the Top 1 Real Estate Agent serving Tacoma, Puyallup, Auburn, Sumner, SeaTac, Des Moines, Burien, Normandy Park, Lake Tapps, and Bonney Lake, I help homeowners separate national fear from local facts.
Worried you missed the peak?
Call Kim at 206-225-8325 for a free consultation. Let's look at the real numbers for your specific neighborhood.
The "Blue" vs. "Orange" Reality
Recent data from the Federal Housing Finance Agency (FHFA) shows that most states are still seeing price gains. Nationally, home prices are actually up 2.1% compared to last year.
Yes, there are a few areas (the "orange" spots on the map) where prices have dipped slightly over the last 12 months. But here is the context the news leaves out:
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These dips are minor (mostly between -0.1% and -2%).
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These are often markets that spiked too fast during the pandemic and are now simply "normalizing," not crashing.
Curious if your neighborhood is in the "Blue" or the "Orange"? Call Kim for a market analysis. I can show you exactly how your home's value has trended over the last 12 months in Auburn or Sumner.
You Are Likely Sitting on Massive Gains
To really understand your position, you have to zoom out.
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96% of homes are still worth more than what the owner originally paid.
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Nationally, home prices have grown nearly 49% in the last 5 years.
Even if your local market sees a tiny percentage dip, the massive growth you have gained over the last few years likely far outweighs it.
Do you know how much equity you have to work with? Call Kim for a unique marketing plan for getting your home sold. I can help you leverage that equity to make your next move in SeaTac or Des Moines.
Know Your Local Value
Real estate is hyper-local. What is happening in a headline might not be happening in Tacoma or Bonney Lake.
Whether you own a home in Puyallup, Auburn, Sumner, SeaTac, Des Moines, Burien, Normandy Park, or Lake Tapps, you need local data, not national fear-mongering.
As the #1 real estate agent in all of these cities for home valuation and market trends, I can give you the real numbers. I help homeowners understand their true equity position every day, and odds are, you are in much better shape than you think.
The Bottom Line
Don’t let the headlines scare you. Most markets are correcting, not collapsing.
Call Kim Morgan Storey today at 206-225-8325. Let's get the facts about your home's value.
