Did you know home prices have doubled in the past nine years? If you bought your home in the 3rd quarter of 2011 you could be sitting on quite a bit of equity today. Take a look at the following example…
The average sales price of a home located in 92506 in the 3rd quarter of 2011 was $290,303. If you bought your home with FHA financing, your cash investment required to complete your purchase was equal to only 3.50% of the sales price. Today the average sales price of a home in 92506 is $603,778! Provided you have not refinanced or taken any other loans out on your home since you purchased it in 2011, of course, this means that your initial investment of $10,160 is potentially now equal to a whopping $323,636!
Today’s interest rates are below 3.00% and with over $300,000 in cash equity, you can add a lot of buying power when purchasing the home of your dreams or one better suited for your family’s needs.
If you would like to see how much equity you now have in your nest egg, then call us today and we would be pleased to provide you with a no obligation free analysis of your current buying potential.