Do you have Equity in your Home?

by Pete Belcastro.

Oregon homeowners turned a corner recently when it was announced 92% of us have equity in our homes. After the Great Recession most of us were upside down in what we owed on our home and what its value was.  The graphic below shows that most of us do not know what our home is worth today.  For every 100 people asked, 37% say they have less than 20% equity, but the statistics show that nearly 80% of us have at least a 20% equity stake in our homes and property.  Where do you stand on equity?   How much equity do you have in your home?  I’ll bet its more than 20% as prices and sales have brought our market back to a healthy one with the majority of homeowner above water, with equity in their investment and that’s a good thing whether you stay put or sell.  You made a good investment in your home.