Park Place / GMAC Realty
7379 Indiana Ave Riverside, CA 92504
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Real Estate is my ONLY business! Great Results for YOU, my goal!
Who Stole my Equity?
Save my Equity
The silent equity thief is at work, right now. It is taking more of your household value than car depreciation, or rising gas prices and you are not even aware of it, until you need to move up and were counting on that equity to fund the move.
For each 1% increase in the Home Mortgage rate the SALES PRICE of your home has to retreat up to 10% or more, just to keep the same payment as before the rate hike!!! That 10% comes TOTALLY OUT OF YOUR EQUITY! A 2% increase could wipe out a year or more of your appreciation!
This is NOT a 'could be' or a "May BE", but a "IS" and it IS happening right now, to ALL homeowners, new owners, 30 year owners. Rising rates are stealing your equity in 2 ways. 1. Reducing what you can sell your home for. 2. Increasing the cost of ownership for your replacement home.
What can you do NOW and in the future?
NOW- Write your congressman and tell them you are NOT happy with the rate increases. A 400% rise in interest rates in 2 years is NOT realistic. 400%!!!!
In the future, Call Jerry A. Cook, Realtor and economist for a true picture of your homes worth, in today's interest rate world!
The silent equity thief is at work, right now. It is taking more of your household value than car depreciation, or rising gas prices and you are not even aware of it, until you need to move up and were counting on that equity to fund the move.
For each 1% increase in the Home Mortgage rate the SALES PRICE of your home has to retreat up to 10% or more, just to keep the same payment as before the rate hike!!! That 10% comes TOTALLY OUT OF YOUR EQUITY! A 2% increase could wipe out a year or more of your appreciation!
This is NOT a 'could be' or a "May BE", but a "IS" and it IS happening right now, to ALL homeowners, new owners, 30 year owners. Rising rates are stealing your equity in 2 ways. 1. Reducing what you can sell your home for. 2. Increasing the cost of ownership for your replacement home.
What can you do NOW and in the future?
NOW- Write your congressman and tell them you are NOT happy with the rate increases. A 400% rise in interest rates in 2 years is NOT realistic. 400%!!!!
In the future, Call Jerry A. Cook, Realtor and economist for a true picture of your homes worth, in today's interest rate world!
