All posts by Edgemont Real Estate

About Edgemont Real Estate

Barbara Pollack comes to the real estate industry with a strong background in sales, global marketing and customer service, following a career in education as a teacher trainer. She has a strong connection to Southern Westchester, living in the area for over 30 years and is very knowledgeable about the variety of housing options available. Her experiences and willingness to continuously expand her professional knowledge base keeps Barbara on the forefront of the changing real estate market. Social media has provided Barbara with another avenue of contact and exposure. For exceptional customer service and dedication to the task of buying and/or selling your home, Barbara Pollack is the real estate professional for you. Barbara Pollack’s Certifications • e-PRO – Internet Certification • SRES - Senior Real Estate Specialist • RSPS – Resort and Second Home Property Specialist • CBR - Certified Buyer Representative • ASP – Accredited Staging Professional Designation • Graduate of Ready to Sell Program • Graduate of S.M.A.R.T. Program

The Truth About Homeowner Equity

The Truth About Homeowner Equity | Keeping Current Matters

A recent article from a reputable news source was titled: Here’s why some homeowners still can’t sell. In the opening bullets of the article, the author claimed, “Negative equity is one of the main reasons why there are so few homes for sale.” The article then goes on to soften that stance but we want to bring better clarity to the equity situation.

A recent report from CoreLogic (which was quoted in the article) revealed that over 80% of all homes now have “significant equity,” which means the home has over 20% equity. That level of equity allows the homeowner to sell their home if they so desire. (There was no reference to significant equity in the article.)

If eight out of ten homeowners now have significant equity in their homes, it is hard to make the claim that lack of equity is “one of the main reasons why there are so few homes for sale.”

Here is a map showing the percentage of homes in each state which currently have significant equity:

The Truth About Homeowner Equity | Keeping Current Matters

Bottom Line

If you are one of many homeowners who is debating selling your home and are wondering how much equity you have accumulated, contact a local real estate professional who can help you determine if now is the time to list.

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