Has the Economy Helped You Out of Trouble?

Well, as most of you are painfully aware, the past 5 plus years have been a real weight dragging many down to foreclosure or the slightly better negative of a short sale. In some cases, the issue has been, or had contributing to it, the dramatic drop in value of one's home as the housing market crashed along with the economy. Well, as things have slowly started to turn around, the reverse is becoming more true by the day. When prices for homes dropped through the floor as the Great Recession took hold, they basically gutted whatever equity owners had in their residences. As things have turned the corner and values have again begun to rise, some homes now have, or are approaching, a positive equity again. If your equity is in positive territory again, it may allow you a better opportunity to refinance or sell in a regular, not short, sale transaction. So how do you know what your home's value is? You could get it appraised, but that will cost you several hundred dollars that you may not have or feel comfortable parting with at this time. An easier way is to call a Realtor. If you still have contact with the Realtor who helped you purchase the home, call him or her. If not, pick up the phone and contact a local real estate brokerage nearby, or, better yet, ask one of your friends or co-workers if they know a good Realtor. Most agents will be only too happy to give you a valuation on your home. Once you have that figure in hand, you can make a better decision about where you go (or stay) from here. With this in mind, if you're in Marin County in California, call me for a free valuation and a discussion of the market. In any event, good luck.