Dallas Boasts Growing Home Equity for Owners

Data analysis company CoreLogic, Inc. recently published a report stating that Dallas area homeowners can now boast one of the best increases in home owner’s equity in the nation, according to Dallasnews.com.  The report found that that Dallas area homeowners came in third place as homeowners with positive equity rates on their mortgages.  With the real estate market taking a turn for the better, home equity rates across the country have seen a positive trend for homeowners.  President and CEO of CoreLogic, Anand Nallathambi, stated in the company’s report that, “The scourge of negative equity continues to recede across the country.”

Analysts at CoreLogic project that an additional 200,000 U.S. homes across the nation will be able to boast a positive home equity rate.  Figures for the fourth quarter of 2012 are estimated to contain these positive home equity rate figures.  Nallathambi said, “The trend toward more homeowners moving back into positive equity territory should continue in 2013.  There is certainly more to do, but with fewer borrowers underwater, the fundamentals underpinning the housing market will continue to strengthen.”

Though positive now, home equity rates in the Texas area were not always at their best.  In the worst of the housing market around 2008, over 21 percent of Dallas area homeowners were negative in their home equity rate, according to dallasnews.com.  Figures now show that the negative equity rate in the Dallas area has decreased a total of approximately 10.4 percent.  Additionally, property prices had also increased this past year to the tune of about 8 percent in the Dallas area, indicating a strong real estate market.

If you would like to further discuss how the growing equity in your Dallas home can be used to your advantage, please contact us.  We would love to discuss the mortgage options that are available to help you reach your goals.