Rising home values open opportunities

Who doesn’t like an upgrade?

You book a garden-view hotel room and you get a free upgrade to an ocean view. You begin to board the plane and they ask if you wouldn’t mind being upgraded to first class, coach is sold out. You’re in a long line at the grocery store and the cashier opens up a new cash register and tells you to follow her, you are now first in line.

We love to get upgraded.

What about in housing? To upgrade in housing usually means selling your existing house and upgrading to a bigger or better house. Something people living in Arizona have not been able to do for some time.

Many have been “stuck” in a home with little or no equity. Even if a person had to move and sell their house, they could not sell unless it was through a short sale.

Times are changing. If you have wanted to upgrade or move, now could be the time. We are seeing more traditional sales come on the market in Maricopa.

Simply put, a traditional sale is a homeowner who has enough equity to sell the house. The homeowner can sell it at market value, cover the cost of selling the home, pay off the mortgage and even pocket some money.

Many homeowners have not had that option in some time. If you have purchased a home in Maricopa between 2009 and now, this could be a great time to sell and it is still a great time to buy.

We are in a unique time in real estate. The housing value in Maricopa has increased and interest rates are at a historic low. If you are unsure of what your home value is, find out.

You can get a free market evaluation from your Realtor. You might be surprised at what the value of your home is, and you might just be eligible for an upgrade.