Western Home Values Higher – Chuck Barberini

Western Home Values Higher

This is very interesting; values are going up higher then home owners even realize. In my last article we talked about 92% of homes in the country now have equity. What this article is saying is even more interesting, in metro areas houses are appraising higher then home owners are even aware of. Check this short article from Quicken Loans, published by the National Association of Realtors in Realtor Magazine and let me know what you think.

Chuck

Chuck Barberini Real Estate – Barberini Robinson Real Estate Group

Western Home Values Higher Than Owners Realize

DAILY REAL ESTATE NEWS | WEDNESDAY, JUNE 15, 2016

Home owners in western states may have more equity than they may realize. A new report shows that homes in the region’s metro areas are appraising higher than owners’ estimates.

“The hot housing markets along the West Coast are growing quicker than owners realize, giving way to higher-than-expected prices for buyers and more home equity for existing owners,” says Quicken Loans Chief Economist Bob Walters. “On the other hand, the housing markets are more balanced in the East and Midwest, leading owners to be slightly overenthusiastic about their home’s appreciation.”

Nationwide, home appraisals in May were, on average, 1.89 percent lower than what home owners say their home was worth, according to Quicken Loans’ Home Price Perception Index (HPPI). Appraised values continue to climb.

Denver had the highest HPPI value in May. Appraisals showed home values there averaged 3.28 percent higher than what home owners thought their home was worth.

On the other hand, in may Eastern and Midwestern cities, home owners may have been a little too optimistic about their home’s value compared to appraisers’ estimates. For example, in Philadelphia, Detroit, and Baltimore, appraisals were more than 3 percent lower than what home owners expected.

may16_DN_QuickenLoans_chart

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Chuck Barberini Real Estate – Barberini Robinson Real Estate Group

Western Home Values Higher

Author: Chuck Barberini

As a professional Realtor for over 15 years, I have lucky enough to work with several companies and many different brokers. I have learned and gained experience through all of my interactions and transactions. I have continued to work diligently to nurture and support my network of clients, both buyers and sellers, Real Estate colleagues, investors and other professionals in related fields. By working on and developing relationships, I have been able to maintain and grow my business through the dramatic ups and downs in the Real Estate market over the past decade. I am, however, more than just a Real Estate professional, I’m also a neighbor, a friend, husband and father. I take a keen interest in people and their well-being, working hard to earn and maintain their trust and respect. My upbringing here in the San Francisco Bay Area, as well as my professional experience, has given me the ability to work easily with a variety of Real Estate clients who have a variety of needs. From helping first-time home-buyers find that special home together, to strategizing with investors to find and secure wealth-building assets, I help navigate and problem-solve the complex processes and negotiations that are inherently part of this industry. I prefer to focus on the relationship rather than just the transaction, believing that a satisfied client will share my name with their friends and colleagues. This approach has helped me expand my local network to include the legal community involved with probate issues. And I am proud to be a preferred agent to a number of professionals in this area.

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