Appreciation is the value that assets (property, real estate, cars, investments, etc.) gain over a period of time. Market value, market conditions and demand can all affect the appreciation of an asset. Appreciation is not an increase in value from inflation.
Usually, after you have enough equity in your home, you can cancel private mortgage insurance (PMI). But if you have a mortgage from Fannie Mae or Freddie Mac you may have to follow different rules. Find out some of the rules concerning canceling PMI for mortgages from Fannie Mae and Freddie Mac.
Before you start on a home renovation project, take stock of your personal finances. Figure out how much you have to spend and then set the budget accordingly. Make sure you know what your renovation dollars will bring back to you in home value appreciation.
Over the past five years, the average house has increased in value by more than 30 percent. Are housing prices a bubble that's going to burst like the stock market? But it's possible that we could continue to see house prices continue to go up in value.
Every home buyer approaches the challenge of owning a home differently. Gone are the days when families lived in their homes for 30 or more years. Now buyers are continually renovating, upgrading, selling and buying again. These " serial home buyers" have been enabled to continue with friendly tax laws allowing the sellers to pocket the gains, tax free.
Odds and ends from real estate news around the country. Home values continue to rise as interest rates for 30-year mortgage rates hit historically low levels. The strong economy and low unemployment rate are helping more and more people around the country become first time home buyers. Also, a $30,000 lawn mower that will cut your grass with a laser.
If you have children, scouting out potential schools seems a natural way to choose a new neighborhood. You'll want to be close to the schools that will provide them with the most opportunities. But even if you don't have children, the quality of the local grade, grammar or high school plays a significant role in your future home's appreciation.