Hope Leitner, Realtor®, CRS

There are a number of   reasons   you may be thinking about   selling   your house. And as you weigh your options, you may find you’re unsure how you’re going to deal with one thing about today’s   housing market   – and that’s   affordability . If that’s your biggest concern, understanding how much equity you have in your house could help make your   decision   that much easier. Here are two key factors that have a big impact on your equity. How Long You’ve Been in Your Home First up is homeowner tenure. That’s how long homeowners live in a house, on average, before  selling  or choosing to move. From 1985 to 2009, the average length of time homeowners stayed put was roughly six years.  But  according  to the  National Association of Realtors  (NAR), that number has been climbing. Now, the average tenure is 10 years ( see graph below ): Here’s why that’s such a big deal. You gain  equity  as you pay down your home loan and as home prices climb. And when you combine all of your mortgag

The real estate market has held steady in San Diego despite all the doom and gloom reporting around rising interest rates. In fact, the average value of homes in San Diego is on the rise again! This might be a result of the shortage of homes for sale. This shortage is considered seasonal. But, if you're looking to sell, now is the time to do it! I'm including October's and September's reports at the bottom here, so you can see the changes. If you know anyone who might be interested in receiving this market update every month, please have them sign up at this link. Ponder This- "Acknowledging the good that you already have in your life is the foundation for all abundance," Eckhart Tolle - Before we can yearn for more - we need to be happy with everything we already have. I’m very grateful for my family, friends, and clients. Thank you! I am always here for my clients and their friends and family. Your trusted real estate agent, Hope Leitner Hope Open