NAVIGATE THE MEDIA, PA REAL ESTATE WITH CONFIDENCE

Navigate the Media, PA Real Estate Landscape with Confidence

In the dynamic world of real estate, negative news and online discussions often sow uncertainty. Jason Lewris, Co-Founder and Chief Data Officer at Parcl, emphasizes that decisions driven by fear, uncertainty, and doubt can arise when reliable information is lacking. However, don’t let fear dictate your choices – a knowledgeable local real estate agent can bring the clarity you need.

Understanding the Local Market:

In Media, PA, a seasoned real estate agent can provide valuable insights into home prices, housing supply, and expert forecasts. By tapping into their expertise, you can make informed decisions that align with both national trends and the unique characteristics of your local area. Ensure the chosen agent comprehends pricing trends, market supply, time-to-sale metrics, and the intricate interplay of these factors.

Debunking Headlines with Reliable Data:

Your local agent will dismantle sensational headlines using reliable data, offering a grounded perspective on the market. Their deep industry knowledge provides context, enabling you to compare current trends with historical data and market fluctuations.

A trusted agent ensures you’re well-versed in both national and local market dynamics, empowering you to confidently navigate the potentially life-changing decision of buying or selling a home.

Considering Your Next Move:

For those contemplating selling in a low-supply market like Media, understanding the impact on your move is crucial. Whether you lean towards a newly constructed home or an existing one, a local real estate agent can guide you through exploring all available options.

Pros of Newly Built Homes:
  • Craft your ideal home with personalized features.
  • Leverage energy-efficient options.
  • Reduce repairs with builder warranties.
  • Revel in the novelty of a brand-new home.
Pros of Existing Homes:
  • Explore a diverse range of styles and floorplans.
  • Integrate into an established neighborhood.
  • Enjoy mature trees and landscaping.
  • Embrace the unique charm of older homes.

I have a proven strategy for ensuring you find the home you truly desire. Developed when my wife and I, married for 57 years, decided to downsize, it proved successful for us and can work for you too. To learn the details, reach out, and let’s have a conversation.

here is what you need to do to make the right decision for you

  • Buyers: If you’ve been holding off on buying because you were worried the value of your home would go down, knowing home prices are stable and increasing is reasuring. It also gives you the opportunity to own something that usually becomes more valuable as time goes on.
  • Sellers: If you’ve been waiting to sell your house because you were concerned about how changing home prices would affect its value, this should also reassure you. Even with the recent increase in mortgage rates, teaming with a real estate agent and getting your house on the market is the logical and smartest thing to do.  Prices are still going up and I see lots of reasons why that will continue.
  • One option is to connect on the computer and have a virtual meeting. That is a great way to learn and see if I am the person you would like to do business with. Just call or text to 484-574-4088 or email to john@johnherreid.com
  • Do I think that now is a good time to buy that first house or to sell and make that move up buy?  Again, absolutely yes.
  • Interested in what recent clients think of my service? Click here to read what they say.
  • Interested to know what your house is worth? Click here to get the most extensive and accurate estimate of home value that is available on the Internet. No cost or obligation of course.
  • There are clear opportunities for sellers right now. If you’re wondering if it’s the right time to make a move, I believe that it is and I suggest we connect soon.  There are plenty of buyers out there right now trying to find a home that fits their needs.
  • To put your house on the market and get in on the action, let’s connect on Zoom, in person or on the phone at 484 574 4088.

MEDIA, PA AREA: LOW INVENTORY AND STRONG DEMAND KEEP PRICES UP

Media, PA Area: Low Inventory and Strong Demand Keep Home Prices Up

The spring housing market has been surprisingly active this year. Even with affordability challenges and a limited number of homes for sale, buyer demand is strong, and getting stronger.

One way we know there are interested buyers right now is because showing traffic is up. Data from the latest ShowingTime Showing Index, which is a measure of buyers actively touring homes, makes it clear more people are out looking at homes than there were prior to the pandemic (see graph below):

And though there’s less traffic than the buyer frenzy of the past couple of years, we’re not far off that pace. There are a lot of interested buyers checking out available homes right now.

But why are buyers so active at a time when mortgage rates are higher than they were just last year?

THE JOB MARKET IS GROWING AT A STRONGER-THAN-EXPECTED PACE

With inflation still high, the Federal Reserve (the Fed) repeatedly hiking the Federal Funds Rate, and a lot of chatter in the media about a recession, it might surprise you just how strong today’s job market is. What might be even more surprising is the fact that it appears to be getting stronger (see graph below):

Each month, the Bureau of Labor Statistics (BLS) reports how many new jobs were added to the U.S. job market. The graph above shows 88,000 more jobs were created in April than in March. In fact, the April numbers beat expert projections. That’s a solid indicator the job market is growing.

UNEMPLOYMENT IS AT A NEAR ALL-TIME LOW

Ever since the Fed began fighting inflation, many people expected the low unemployment rate we’ve seen over the past couple of years to rise – but that hasn’t happened.

In fact, what has happened is the unemployment rate has dropped to 3.4% – a 50-year low (see graph below):

With so many people steadily employed and financially stable right now, they’re still able to seriously consider buying a home.

WHAT DOES THIS MEAN FOR SELLERS AND BUYERS IN WEST CHESTER

If you’re thinking about selling your house this year, a market with active buyers is music to your ears. That’s because there’ll be increased interest in your home when you put it on the market, especially at a time when the number of homes for sale is so low.

For more insight, please check out the below chart.

DELCO, ROSE TREE MEDIA SCHOOL DISTRICT, MEDIAN PRICE SINGLE FAMILY
Month Sale Price Sale Price Sale Price
2021 2022 2023
Jan $500,000 $612,450 $1,200,000
Feb $419,900 $694,500 $950,000
Mar $579,000 $695,750 $540,000
Apr $516,250 $505,000 $648,600
May $528,000 $706,000
Jun $615,000 $664,250
Jul $660,000 $897,500
Aug $587,506 $730,000
Sep $584,300 $677,000
Oct $635,000 $530,000
Nov $580,000 $690,000
Dec $534,000 $626,500
Annual Average $561,580 $669,079
Change 19.1%

 

Prices are still holding up in our area. In 2022, prices were up, year over year, in 10 of the 12 months. That also extended into 3 of the first four months of 2023.  One word of caution, however. January and February sales had a unusually large number of higher priced sales. That will not be typical for the rest of the year.

But even given that,  mitigating against a steep decline are two facts. We have only 4 months of inventory and median days on market to get an acceptable offer are only 5. Those are both indicators of strong demand for the houses that are on the market.

It is true that sales are down A LOT, so far in 2023. Down by 37% in the first four months of 2023.  However, does this also mean that we are in for a big decline in prices? I am thinking no, but I will keep an eye on this and continue to report on the trends that I see.

To get started, your best resource is an experienced real estate agent. They can help you price your house appropriately, navigate the offers you’ll receive, negotiate effectively, and minimize your stress and hassle.

SUGGESTED NEXT STEPS FOR YOU TO MAKE SURE YOU HAVE THE INFORMATION YOU NEED TO MAKE THE RIGHT DECISION

  • It’s also important to remember that every local market is different. That’s why it’s essential to lean on an expert for the latest information on the market in your area if you’re planning to make a move.
  • Do I think that now is a good time to buy that first house or to sell and make that move up buy?  Again, absolutely yes.
  • To get a quick update of what is new in real estate, click here to check out our new videos.
  • Interested in what recent clients think of my service? Click here to read what they say.
  • Interested to know what your house is worth? Click here to get the most extensive and accurate estimate of home value that is available on the Internet. No cost or obligation of course.
  • No doubt, the housing market is shifting, and it can be a confusing place right now. I suggest that we connect so that I can help you make confident and informed decisions about what’s happening. Minimize the fear or uncertainty that could change your plans. If you’re unsure about how to make sense of what’s going on in today’s housing market, text or call me at 484-574-4088 or go to my web site, (johnherreid.com) and lets set up a time to meet, either on line or in person. I have the software so that we can meet virtually and make the best use of your time.
  • If you’re looking to make that move up buy this year, I believe now is a good time to do it. The best way to ensure you’re up to date on the latest market insights is to partner with a trusted real estate advisor. Let’s connect. I would like to interview for the job of becoming your trusted real estate advisor.
  • One of the biggest benefits of owning a home, regardless of your income level, is that it provides financial stability and an avenue to build wealth. By selling your house and leveraging your equity, it can be easier to pay for your next home. Let’s connect to find out how much equity you have in your current home and how you can use it to fuel your next purchase.
  • There are still clear opportunities for sellers this spring. If you’re wondering if it’s the right time to make a move, let’s connect today.
  • There are plenty of buyers out there right now trying to find a home that fits their needs. That’s because the job market is strong, and many people have the stable income needed to seriously consider homeownership. To put your house on the market and get in on the action, let’s connect.

DELAWARE COUNTY, TWO BIG ISSUES IN THE HOUSING MARKET, WHAT THAT MEANS TO YOU

DELAWARE COUNTY, Two Big Issues IN THE HOUSING MARKET, WHAT THAT MEANS TO YOU

The Two Big Issues the Housing Market’s Facing Right Now | MyKCM

CONCLUSIONS:

  • First issue is that we still have a limited number of houses for sale.
  • Second issue is that higher mortgage rates have some prospective buyers and sellers on the sidelines.
  • In spite of this right now is a better time for both first time buyers and move up sellers and buyers than waiting for interest rates and/or prices to come down.

DISCUSSION

The biggest challenge the housing market’s facing is how few homes there are for sale. Mark Fleming, Chief Economist at First American, explains the root causes of today’s low supply:

“Two dynamics are keeping existing-home inventory historically low – rate-locked existing homeownersandthe fear of not finding something to buy.”

Let’s break down these two big issues in today’s housing market.

Rate-Locked Homeowners

According to the Federal Housing Finance Agency (FHFA), the average interest rate for current homeowners with mortgages is less than 4% (see graph below):

But today, the typical mortgage rate offered to buyers is over 6%. As a result, many homeowners are opting to stay put instead of moving to another home with a higher borrowing cost. This is a situation known as being rate locked.

When so many homeowners are rate locked and reluctant to sell, it’s a challenge for a housing market that needs more inventory. However, experts project mortgage rates will gradually fall this year, and that could mean more people will be willing to move as that happens.

The Fear of Not Finding Something To Buy

The other factor holding back potential sellers is the fear of not finding another home to buy if they move. Worrying about where they’ll go has left many on the sidelines as they wait for more homes to come to the market. That’s why, if you’re on the fence about selling, it’s important to consider all your options. That includes newly built homes, especially right now when builders are offering concessions like mortgage rate buydowns.

What Does This Mean for You?

Let’s take a deeper dive into the facts and see what they say about what buyers and sellers should do now.

These two issues are keeping the supply of homes for sale lower than pre-pandemic levels. But if you want to sell your house, today’s market is a sweet spot that can work to your advantage. In Delaware county,  houses are still selling quickly. Just check out the below data.

DELAWARE COUNTY, MEDIAN DAYS ON MARKET
JAN 2021 – FEB 2023
Month CDOM 2021 CDOM 2022 CDOM  2023
Jan 7 15 12
Feb 12 12 12
Mar 7 7
Apr 6 7
May 6 6
Jun 6 6
Jul 7 6
Aug 7 8
Sep 10 9
Oct 10 11
Nov 10 8
Dec 12 9

Median Days on Market increased from 6-10 days over the past two years, up to 12 days in December and January. What that means is that if you put your house on the market you can reasonably expect to get an acceptable agreement of sale in 12 days or in a little less than two weeks.  Bottom line, when your house is professionally marketed and priced, you should have no problem selling.

But how about finding that next place to live? For first time buyers with no existing house to sell, that is not an issue. It just will probably take a little longer than it would have a year or so ago.

DELAWARE COUNTY, MONTHS OF INVENTORY, JAN 21 THRU FEB 23
Month Months Of Months Of Months Of
Inventory, 2021 Inventory, 2022 Inventory, 2023
Jan 3 3 4
Feb 5 3 3
Mar 4 3
Apr 4 3
May 4 3
Jun 3 3
Jul 3 3
Aug 3 2
Sep 4 3
Oct 3 3
Nov 3 3
Dec 2 2

 

Also prices are stable and still increasing. To verify please check out the below chart. Median sales price was higher than the same month in the previous year for 9 of the 12 months in 2022.  The same trend continued into 2023.

DELAWARE COUNTY, MEDIAN SALES  PRICE
JAN 2021 THRU FEB 2023
Month Sale Price Sale Price Sale Price
Median 2021 Median 2022 Median 2023
Jan $359,000 $360,000 $375,000
Feb $335,450 $376,000 $390,000
Mar $369,500 $403,500
Apr $400,000 $415,000
May $400,000 $427,000
Jun $410,000 $451,500
Jul $425,000 $420,000
Aug $415,000 $430,000
Sep $385,000 $385,000
Oct $400,000 $390,000
Nov $384,900 $410,000
Dec $380,000 $420,000

 

For the Move Up Buyer, my advice is to consider finding the  house you want and getting an Agreement of Sale before putting your house on the market. Try to negotiate a long settlement (like 90 days) to give you more time to find your next house. Because the Median Days on Market are only 12 days, this should not present a problem.

Is this a little risky? Yes,  but in this low inventory market I think it is a reasonable risk to take to lock in the price for your next house before they go higher.

Be sure to work with a local real estate professional to explore the options you have right now, which could include leveraging your current home equity. According to ATTOM:

“. . . 48 percent of mortgaged residential properties in the United States were considered equity-rich in the fourth quarter, meaning that the combined estimated amount of loan balances secured by those properties was no more than 50 percent of their estimated market values.”

This could make a major difference when you move. Work with a local real estate expert to learn how putting your equity to work can keep the cost of your next home down.

RECOMMENDATIONS:

  • For First Time Buyers: Prices are still stable and moving up in Delaware county. Thus it makes sense for you to buy that first house NOW. That way you begin to build your family’s wealth and net worth right away.
  • For Move Up Buyers: Given the low inventory or houses in Delaware county,  your first step should be to get an agreement of sale on the house to which you want to move. That could take longer than normal and you want to insure that you can get into a house you really like.
  • Then get your house on the market. Given the speed with which houses are selling, this presents minimal risk to you.

SUGGESTED NEXT STEPS FOR YOU TO MAKE SURE YOU HAVE THE INFORMATION YOU NEED TO MAKE THE RIGHT DECISION

  • It’s also important to remember that every local market is different. That’s why it’s essential to lean on an expert for the latest information on the market in your area if you’re planning to make a move this spring.
  • To get a quick update of what is new in real estate, click here to check out our new videos.
  • Interested in what recent clients think of my service? Click here to read what they say. 
  • Interested to know what your house is worth? Click here to get the most extensive and accurate estimate of home value that is available on the Internet. No cost or obligation of course.
  • No doubt, the housing market is shifting, and it can be a confusing place right now. I suggest that we connect so that I can help you make confident and informed decisions about what’s happening. Minimize the fear or uncertainty that could change your plans. If you’re unsure about how to make sense of what’s going on in today’s housing market, text or call me at 484-574-4088 or go to my web site, (johnherreid.com) and lets set up a time to meet, either on line or in person. I have the software so that we can meet virtually and make the best use of your time.
  • If you’re looking to make that move up buy this year, I believe now is a good time to do it. The best way to ensure you’re up to date on the latest market insights is to partner with a trusted real estate advisor. Let’s connect. I would like to interview for the job of becoming your trusted real estate advisor.
  • One of the biggest benefits of owning a home, regardless of your income level, is that it provides financial stability and an avenue to build wealth. Let’s connect to find out how much equity you have in your current home and how you can use it to fuel your next purchase.

WHY TODAY’S HOUSING MARKET ISN’T HEADED FOR A CRASH

Why Today’s Housing Market Isn’t Headed for a Crash

Why Today’s Housing Market Isn’t Headed for a Crash | MyKCM

CONCLUSIONS

  • 67% of Americans say a housing market crash is imminent in the next three years. With all the talk in the media lately about shifts in the housing market, it makes sense why so many people feel this way.
  • But I disagree.  Current data shows today’s market is nothing like it was before the housing crash in 2008.
  • Especially with regards to mortgage lending standards

Back Then, Mortgage Standards Were Less Strict

During the lead-up to the housing crisis, it was much easier to get a home loan than it is today. Fannie Mae the Government Sponsored Entity (and to a lesser degree, Freddy Mac) created artificial demand by lowering lending standards and making it easy for just about anyone to qualify for a home loan or refinance an existing one. Shocking to realize that this was done at the direction of our federal government in a misguided attempt to increase home ownership

As a result,  much greater risk was not only tolerated but encouraged,  in both the person and the mortgage products offered. That led to mass defaults, foreclosures, and falling prices. Today, things are different, and purchasers face much higher standards from Fannie and Freddy.

The graph below uses data from the Mortgage Bankers Association (MBA) to help tell this story. In this index, the higher the number, the easier it is to get a mortgage. The lower the number, the harder it is.

This graph also shows just how different things are today compared to the spike in credit availability leading up to the crash. Tighter lending standards have helped prevent a situation that could lead to a wave of foreclosures like the last time.

Foreclosure Volume Has Declined a Lot Since the Crash

Another difference is the number of homeowners that were facing foreclosure when the housing bubble burst. Foreclosure activity has been lower since the crash, largely because buyers today are more qualified and less likely to default on their loans. The graph below uses data from ATTOM to show the difference between last time and now:

So even as foreclosures tick up, the total number is still very low. And on top of that, most experts don’t expect foreclosures to go up drastically like they did following the crash in 2008. Bill McBride, Founder of Calculated Risk, explains the impact a large increase in foreclosures had on home prices back then – and how that’s unlikely this time.

“The bottom line is there will be an increase in foreclosures over the next year (from record level lows), but there will not be a huge wave of distressed sales as happened following the housing bubble. The distressed sales during the housing bust led to cascading price declines, and that will not happen this time.”

The Supply of Homes for Sale Today Is More Limited

For historical context, there were too many homes for sale during the housing crisis (many of which were short sales and foreclosures), and that caused prices to fall dramatically. Supply has increased since the start of this year, but there’s still a shortage of inventory available overall, primarily due to years of underbuilding homes.

The graph below uses data from the National Association of Realtors (NAR) to show how the months’ supply of homes available now compares to the crash. Today, unsold inventory sits at just 2.7-months’ supply at the current sales pace, which is significantly lower than the last time. There just isn’t enough inventory on the market for home prices to come crashing down like they did last time, even though some overheated markets may experience slight declines.

Bottom Line

As shown above, housing supply increased dramatically during the 2006 through 2011. That was because investors thought the golden goose would continue laying eggs indefinitely and they kept building more and more houses on speculation. That all came crashing down in 2008 and almost bankrupted the country.

If recent headlines have you worried we’re headed for another housing crash, the data above should help ease those fears. Expert insights and the most current data clearly show that today’s market is nothing like it was last time.

RECOMMENDATIONS FOR YOU

  • It’s also important to remember that every local market is different. That’s why it’s essential to lean on an expert for the latest information on the market in your area if you’re planning to make a move this spring.
  • To get a quick update of what is new in real estate, click here to check out our new videos.
  • Interested in what recent clients think of my service? Click here to read what they say. 
  • Interested to know what your house is worth? Click here to get the most extensive and accurate estimate of home value that is available on the Internet. No cost or obligation of course.
  • No doubt, the housing market is shifting, and it can be a confusing place right now. I suggest that we connect so that I can help you make confident and informed decisions about what’s happening. Minimize the fear or uncertainty that could change your plans. If you’re unsure about how to make sense of what’s going on in today’s housing market, text or call me at 484-574-4088 or go to my web site, (johnherreid.com) and lets set up a time to meet, either on line or in person. I have the software so that we can meet virtually and make the best use of your time.
  • If you’re looking to make that move up buy this year, I believe now is a good time to do it. The best way to ensure you’re up to date on the latest market insights is to partner with a trusted real estate advisor. Let’s connect. I would like to interview for the job of becoming your trusted real estate advisor.
  • One of the biggest benefits of owning a home, regardless of your income level, is that it provides financial stability and an avenue to build wealth. Let’s connect to find out how much equity you have in your current home and how you can use it to fuel your next purchase.

CHESTER COUNTY, WONDERING WHAT’S GOING ON WITH HOME PRICES?

CHESTER COUNTY, Wondering What’s Going on with Home Prices?

Wondering What’s Going on with Home Prices? | MyKCM

CONCLUSIONS

  • Is now a good time to buy your first home, Yes. Indications are that home prices will continue to increase, even  with the recent increases in mortgage interest rates.
  • If you have been in your home for a few years and have built up equity, is now a good time to sell and make that move up buy, Yes,  for the same reasons as above.
  • If mortgage rates go up, you are protected for the life of your mortgage.
  • If mortgage rates go down, many lenders are offering free refi’s which will protect you on the downside.
  • People who want to sell will be able to sell for a price they will like and in a reasonable period of time.
  • People who want to buy will still be able to find a house they will like.

DISCUSSION

The recent changes in home prices are top of mind for many as the housing market begins gearing up for spring. It can be hard to navigate misleading headlines and confusing data, so here’s what you should know about today’s home prices.

Local price trends still vary by market. But looking at national data, Nataliya Polkovnichenko, Ph.D., Supervisory Economist at the Federal Housing Finance Agency (FHFA), explains:

“U.S. house prices were largely unchanged in the last four months and remained near the peak levels reached over the summer of 2022. While higher mortgage rates have suppressed demand, low inventories of homes for sale have helped maintain relatively flat house prices.”

Month-over-month home price changes can be seen in the chart below. The data also shows that price depreciation peaked around August. Since then, any depreciation has been even milder. In other words, today’s home prices aren’t in a freefall.

Below is a monthly  summary of those same time periods for West Chester.

The national figures were almost uniformly negative for the last half of 2022.  Not so for West Chester which was  positive for 4 of the last six months. And the trend continued into 2023.

Jan Feb Mar April May June July August Sep Oct Nov Dec Jan, 23
4.2% -0.6% 17.6% 29.2% 13.0% 32.0% -2.0% 3.9% 14.9% 6.9% -10.4% 12.3% 10.6%

Several  other variables  are important when assessing’s  the health of the real estate market.  Three of the most important are Number of Sales, Days on Market (how much time does it take to get a satisfactory agreement of sale), and Average Inventory (how many houses do we have for sale?)

Number of Sales are down a lot in 2022. From 845 in 2021 to 665 in 2022, a 22% decline.

Days on Market have been around a week for the last 2 years. That meant that if your house is put on the market at a reasonable price and well marketed you could reasonably expect to have an Agreement of Sale in about a week.  In December and January that got up to 12 and 14 days; February was back to 8. That means that houses are still selling rapidly.

Months of Inventory. History tells us that to have a balanced market with about the same number of buyers and sellers, we need 6 months of inventory. Recently that has been very low, about 2-3 months. In December, January and February our inventory was still at 3 and 4 months.  That tells us that there are still more buyers than sellers which means that the demand is higher  than the supply. What happens when we have high demand and low supply,  prices go up.

Stated differently, months of inventory are basically unchanged from the last two years. That means that if you want to buy, either first time or move up, the inventory is there for you to do that.

What Does This Mean for You?

If you currently own your house, you may be concerned about even the smallest decline in prices. But keep in mind how much home values grew over the last few years. Compared to that growth, any declines we’re seeing nationally are likely to be minimal. Selma Hepp, Chief Economist at CoreLogic, shares:

“. . . while prices continued to fall from November, the rate of decline was lower than that seen in the summer and still adds up to only a 3% cumulative drop in prices since last spring’s peak.”

Because months of inventory and days on market are relatively unchanged from the last 2-3 years, my opinion is that this is still a good time to either buy or sell.  A little different, yes but still a good time.

That is what we have seen and what I believe we will continue to see.

It’s also important to remember that every local market is different. That’s why it’s essential to lean on an expert for the latest information on the home prices in your area if you’re planning to make a move this spring.

RECOMMENDATIONS FOR YOU

  • To get a quick update of what is new in real estate, click here to check out our new videos.
  • Interested in what recent clients think of my service? Click here to read what they say. 
  • Interested to know what your house is worth? Click here to get the most extensive and accurate estimate of home value that is available on the Internet. No cost or obligation of course.
  • No doubt, the housing market is shifting, and it can be a confusing place right now. I suggest that we connect so that I can help you make confident and informed decisions about what’s happening. Minimize the fear or uncertainty that could change your plans. If you’re unsure about how to make sense of what’s going on in today’s housing market, text or call me at 484-574-4088 or go to my web site, (johnherreid.com) and lets set up a time to meet, either on line or in person. I have the software so that we can meet virtually and make the best use of your time.
  • If you’re looking to make that move up buy this year, I believe now is a good time to do it. The best way to ensure you’re up to date on the latest market insights is to partner with a trusted real estate advisor. Let’s connect. I would like to interview for the job of becoming your trusted real estate advisor.
  • One of the biggest benefits of owning a home, regardless of your income level, is that it provides financial stability and an avenue to build wealth. Let’s connect to find out how much equity you have in your current home and how you can use it to fuel your next purchase.