![\"Home](\"https:\/\/i0.wp.com\/web.archive.org\/web\/20180220035731\/http%3A\/\/www.corelogic.com\/imgs\/research\/report_highlights_hpi_2015_11_nov.png?resize=250%2C150&ssl=1\")
<\/a>A central reason for the reanimation of the housing market is, of course, home prices. Several major indices concur that home prices have made significant improvements through 2015. S&P\/Case-Shiller U.S. National Home Price Index (spindices.com) reported a 5.2% annual increase in October<\/a>, while the FHFA House Price Index (fhfa.gov) revealed a 6.1% year over year increase in October<\/a>. November\u2019s CoreLogic HPI<\/a> (corelogic.com) indicated a 6.2% year over year increase and project a 5.4% year over year home price increase next November. And as much as home values had healthy gains nationwide, the local Washington DC metro region\u2019s home annual price increases were more modest: 3.1% according to CoreLogic, and about 1.7% according to S&P\/Case-Shiller.<\/p>\n Although negative equity continues to burden many home owners, the good news is that the number of underwater homes is decreasing. Although home prices continue to edge higher throughout the nation, there are many who are still underwater. According to CoreLogic\u2019s Equity Report Q3 2015<\/em><\/a> (corelogic.com), 256,000 homes regained equity. And although 92% of mortgaged homes now have equity, about 4.1 million homes continue to be underwater. 17.6% of mortgaged homes are considered \u201cunder-equitied\u201d (less than 20% equity), while 2.2% are \u201cnear negative equity\u201d (less than 5% equity). 29.3% of underwater homes in the US are located in five states: Nevada, Florida, Arizona, Rhode Island, and Maryland. While 87.9% of Maryland mortgaged homes have equity, 95.5% of mortgage homes in Washington DC have equity. However, the local Washington DC metro region (DC \u2013 VA \u2013 MD) records 89.2% of mortgaged homes with equity \u2013 leaving about 10.8% of mortgaged homes underwater.<\/p>\n If you\u2019re selling your home<\/a> this spring, you want to capitalize the market. Although you want to benefit from the current low inventory; realize that by late spring, the housing market gets into full swing and inventory surges while your competition intensifies. Also consider the home buyer<\/a>: many consider themselves savvy consumers who are money conscious and more fiscally responsible than their 2006 counterparts. Most home buyers want homes that have new or recent updates, including systems (such as HVAC and roof). There are few who are willing to make repairs or upgrade homes they are moving into; much less budget for a new roof or furnace in the first years of home ownership.<\/p>\n Google+ If you like this post, do not copy; instead please: 2016 housing market hinges on home prices. A home selling season has not been anticipated so much by home sellers since 2013. It\u2019s not that 2015 was a bad year for housing, because it wasn\u2019t. It\u2019s that many home owners who have been wanting to sell since 2010 (some because of being underwater) may be … <\/p>\n![\"home](\"https:\/\/i0.wp.com\/web.archive.org\/web\/20180220035824\/http%3A\/\/www.corelogic.com\/imgs\/research\/report_highlights_equity_2015_q3.png?resize=250%2C150&ssl=1\" "\\"\\"")
<\/a>![\"Real](\"https:\/\/i0.wp.com\/dankrell.com\/blog\/wp-content\/uploads\/2014\/05\/house-ch-ch-3-150x150.jpg?resize=150%2C150\" "\\"\\"")
<\/a>The sensible way to make the most of your sale is to have a plan<\/a>, and pricing your home <\/a>correctly should be the focal point. Don\u2019t fall into the trap of pricing your home by comparing national price increases or worse yet \u2013 media reports of hot markets. Real estate is a local phenomenon and you should collect data within your neighborhood (the closer to your home the better). Your real estate agent should be able to produce a detailed market analysis and explain how the comps vary and correspond with each other and to your home. Consider your home\u2019s condition and amenities. You may have to adjust your price if your home is in need \u201cTLC.\u201d However, updates to the kitchen, bathrooms, windows, roof, flooring, and HVAC not only add appeal but also add value.<\/p>\n
\nCopyright \u00a9 Dan Krell<\/p>\n
\nreference the article<\/a>,
\nlike it at facebook<\/a>
\nor re-tweet<\/a>.<\/p>\n![\"Protected](\"https:\/\/i0.wp.com\/banners.copyscape.com\/images\/cs-bk-3d-234x16.gif?resize=234%2C16\" "\\"Protected")
<\/a>
\nDisclaimer<\/a>. This article is not intended to provide nor should it be relied upon for legal and financial advice. Readers should not rely solely on the information contained herein, as it does not purport to be comprehensive or render specific advice. Readers should consult with an attorney regarding local real estate laws and customs as they vary by state and jurisdiction. Using this article without permission is a violation of copyright laws.<\/p>\n","protected":false},"excerpt":{"rendered":"