Natural gas heating and cooking, wood burning fireplace, CAC, full basement. Open concept living room/dining room, updated eat-in-kitchen w/granite counters, sunken family room. Primary bedroom with ensuite bath, main floor laundry room, solar panels, newer roof (9 yrs).
$580,000 | MLS# 3420940
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Beautiful oak floors flow through the main level. A huge sun drenched great room for entertainment, updated bathrooms and kitchen, 4 large Bedrooms, 2 car garage, Full basement, CAC, .41 Acre 2 level yard, Natural Gas, and so much more!
$585,000 | MLS# 3438967
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Living Room With Fireplace, Sunken Family Room With Sliders To Backyard, Gourmet Chef’s Kitchen, Guest Bedroom En-Suite On Main Level. IG Saltwater Pool W/ PoolHouse, New Pickle Ball Court. Access To Three Private Beaches.
$1,850,000 | MLS#3430859
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Nice sized rooms, Good floor plan layout. Full Basement Part finished with outside access (AS IS). 4 bedrooms. The 4th bedroom is located on one end of the house with a separate thermostat,. Large living room with a fireplace. Updated Main bath. Windows galore.
$399,900 | MLS# 3438590
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Sun- filled Devon ranch. Brand-new kitchen, new floors, new baths, and a brand-new roof. 2 car garage and one of the few homes in this community on sewers. In one of the quietest areas of the S-Section, 1.5 blocks from Strathmore Park and athletic fields.
$630,000 | MLS# 3432891
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This home is move-in ready with a magnificent backyard with a Mountain Lake inground pool. Completely redone paver patio with a fire pit, granite kitchen with SS appliances, fully-finished basement with 8′ ceilings. 2+ car garage with plenty of off-street parking. Gas heat.
$749,999 | MLS #3433195
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Large Hi Ranch with 1 to 2 bedroom apartment on lower level, Perfect Mother/Daughter or apartment with proper permits. Newer Ductless AC, SS appliances, roof, HW heater. Driveway fits 6 cars. Lower level has private entrance. Rocky Point SD.
$529,000 | MLS #3433046
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Hardwood floors, oversized windows and recessed lighting throughout main level. Eat in kitchen opens to den with fireplace. Stainless steel appliances, Center island w/granite countertop. Separate guest quarters on main level. Primary ensuite upstairs. Four additional bedrooms and full bath. Finished entertainers’ basement. Heated in-ground pool and waterfall.
$1,250,000 | Web# 3433622
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This Luxurious 7 Bedroom, 8 Bathroom, 9000 SF Estate Boasts Generously Sized Principal Rooms. Separate 3 Car Garage With Loft, An Additional Barn/Garage (6 Plus Car Garage), IG Gunite Pool, and Full House Generator. Partial Winter Water Views And Seconds From Beach.
$3,299,000 | MLS# 3427914
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By Michael Ardolino
The market is shifting; sellers and buyers will still see home price appreciation and gains in their equity.
How does the shift affect home prices?
Demand remains higher than supply, so home prices are appreciating, and sellers will still get a good amount of offers even if it takes a bit longer. In Suffolk County, houses appreciated nearly 10% and higher since last year and more than 50% got over the asking price. Sellers are still making a significant profit.
The steep incline of market values and buyer rush is now pacing itself and most experts predict the appreciation will continue. David Ramsey, a personal finance personality, says, “The root issue of what drives house prices almost always is supply and demand…” and we couldn’t agree more. When priced correctly, houses are still selling at record-high prices and low days on the market.
Certainty of equity
One certainty in a time of uncertainty, mixed news, and mixed predictions, is the value of equity in real estate. According to CoreLogic’s 2022 Q2 Home Equity Report, “the total average equity per borrower has now reached almost $300,000, the highest in the data series.”
The year-over-year equity percentage for U.S. homeowners with a mortgage has increased 27.8%; this is a $60.2K average equity gain.
Selma Hepp, interim lead of the Office of the Chief Economist, CoreLogic, stated “For many households, home equity is the only source of wealth creation. As a result, recent record gains in equity and record declines in loan-to-value ratios will provide many owners with a financial buffer in case economic conditions worsen. In addition, record equity continues to provide fuel for housing demand, particularly if households are relocating to more affordable areas.”
Equity builds long-term wealth gain for homeowners, and should you want access to additional funds, you can always rely on the equity you’ve grown. In times of financial uncertainty, follow the certain.
The shining star
Sellers, as your home value has appreciated considerably, tap into the profit from your equity and take advantage of the current market conditions. Timing is everything and ask your local real estate professional to help you research the area you’re looking to move. Your real estate agent can also help you connect with a professional in that location with expertise in their market conditions.
Homebuyers are future sellers, and they can feel confident to invest in a home now and build their own equity knowing price appreciation is forecasted. When a homebuyer becomes a seller, they’ve already paid off some of their mortgage and can take advantage of the real estate market at the time and come out with a significant profit themselves.
Takeaway
So, the shining star of the market is demand still predominates supply. Home price appreciation is still forecasted, and equity gains are at record-highs. A market shift can be easily navigable with the help of a real estate professional. So … let’s talk.
Michael Ardolino is the Founder/Owner-Broker of Realty Connect USA.
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