Petaluma
170 Windsor Drive
4 Bedrooms | 2.5 Baths | 2,484 sq. ft.
In Contract for $1,250,000
In Contract
→170 Windsor Dr, Petaluma
$1,250,000
MLS ID: 324084032
4 Bedrooms
2.5 Bathrooms
2,484 sq. ft.
7,650 sq. ft. Lot
Subdivision: Victoria Neighborhood
Levels: Two-Story
Garage: 2 Car
HOA: Yes
Near Putnam Park
Remodeled Kitchen
Redwood Surround deck
French Doors
Plantation Shutters
Hardwood Floors
Newer Encased Windows
Closet with Custom Built-ins
Remodeled Primary Bath
Temp Controlled Wine Shed
New Furnace
Backup Batteries
Paid for Solar
MLS ID: 324084032
4 Bedrooms
2.5 Bathrooms
2,484 sq. ft.
7,650 sq. ft. Lot
Subdivision: Victoria Neighborhood
Levels: Two-Story
Garage: 2 Car
HOA: Yes
Near Putnam Park
Remodeled Kitchen
Redwood Surround deck
French Doors
Plantation Shutters
Hardwood Floors
Newer Encased Windows
Closet with Custom Built-ins
Remodeled Primary Bath
Temp Controlled Wine Shed
New Furnace
Backup Batteries
Paid for Solar
Welcome to 170 Windsor Drive in the highly desirable Victoria neighborhood of West Petaluma, just steps from Helen Putnam Park. This stunning 4-bedroom, 2.5-bathroom home offers 2,484 sq ft of ambient living space on a beautiful, maturely landscaped 7,650 sq. ft. lot, backing onto peaceful open space for added privacy. The home boasts a fabulous remodeled kitchen with custom inset cabinets, quartz countertops, microwave drawer, Jenn Air Range and breakfast area with adjoining family room and back yard access. The spacious, great room has lovely cathedral ceilings and plenty of room for gatherings in the living room near the dining area which includes a custom chandelier.
Upgraded with newer encased windows throughout, oak hardwood floors and plantation shutters on the lower level with French doors opening to the redwood surround deck, lovely for entertaining. Upstairs, walk into a serene remodeled primary bathroom with quartz counters, soaking tub over-looking the hills and a custom closet with built-ins.
Other highlights include paid-for solar panels with 3 backup batteries, new furnace, fire- hardening sprinklers in yard, plus a temperature-controlled wine shed perfect for those appreciating both comfort and style. Don't miss this rare opportunity to own a slice of West Petaluma.
WHO YOU WORK WITH MATTERS
Timo Rivetti has been serving his clients with a highly individualized service tailored to specific needs and requirements since 1998. Unparalleled knowledge and expertise in the region is invaluable when it comes to buying and selling real estate. Hiring an agent who knows the area inside out makes all the difference in a competitive market. Timo and his team of experienced professionals work with each and every client to find and secure the perfect property at the best price, with all of the required amenities in the right neighborhood. When it’s time to make a move, call Timo.
I value 1:1 relationships and have the utmost respect for the work we do together. I love working collaboratively with you to achieve your goals. I am committed to transparency and integrity. Using my professional experience and motivated enthusiasm, I will work step-by-step with you to achieve the outcome you're seeking by developing a tailored marketing plan, briefly outlined below.
What My Clients Have To Say
Did you know? Homeowners are often able to put more money down when they buy their next home. That’s because, once they sell, they can use the equity they have in their current house toward their next down payment. And it’s why as home equity reaches a new height, the median down payment has too.
According to the latest data from Redfin, the typical down payment for U.S. homebuyers is $67,500—that’s nearly 15% more than last year, and the highest on record (see graph below):
Here’s why equity makes this possible. Over the past five years, home prices have increased significantly, which has led to a big boost in equity for current homeowners like you. When you sell your house and move, you can take the equity that gives you and apply it toward a larger down payment on your new home. That’s a major opportunity, especially if you’ve had concerns about affordability.
Now, it’s important to remember you don’t have to make a big down payment to buy your next home—there are loan programs that let you put as little as 3%, or even 0% down. But there’s a reason so many current homeowners are opting to put more money down. That’s because it comes with some serious perks.
Why a Bigger Down Payment Can Be a Game Changer
1. You’ll Borrow Less and Save More in the Long Run
When you use your equity to make a bigger down payment on your next home, you won’t have to borrow as much. And the less you borrow, the less you’ll pay in interest over the life of your loan. That’s money saved in your pocket for years to come.
2. You Could Get a Lower Mortgage Rate
Providing a larger down payment shows your lender you’re more financially stable and not a large credit risk. The more confident your lender is in your credit score and your ability to pay your loan, the lower the mortgage rate they’ll likely be willing to give you. And that amplifies your savings.
3. Your Monthly Payments Could Be Lower
A bigger down payment doesn’t just help you reduce how much you have to borrow—it also means your monthly mortgage payment may be smaller. That can make your next home more affordable and give you a bit more breathing room in your budget.
4. You Can Skip Private Mortgage Insurance (PMI)
If you can put down 20% or more, you can avoid Private Mortgage Insurance (PMI), which is an added cost many buyers have to pay if their down payment isn’t as large. Freddie Mac explains it like this:
“For homeowners who put less than 20% down, Private Mortgage Insurance or PMI is an added insurance policy for homeowners that protects the lender if you are unable to pay your mortgage. It is not the same thing as homeowner’s insurance. It’s a monthly fee, rolled into your mortgage payment, that’s required if you make a down payment less than 20%.”
Avoiding PMI means you’ll have one less expense to worry about each month, which is a nice bonus.
Bottom Line
Down payments are at a record high, largely because recent equity gains are putting homeowners in a position to put more money down.
If you’re thinking about selling your current house and moving, let’s work together to figure out how much home equity you have right now, and how it can boost your buying power in today’s market.
If you’re toying with the idea of selling your house, you’re probably wondering how much it’ll cost. To be honest, the final number will depend on several factors like the offer you accept, if you help with your buyer’s closing costs, how many repairs you tackle, and more.
So, to give you a ballpark of what to expect, here’s some information on a few of the expenses you’ll want to be ready for (see graph below):
But here’s something that puts those costs into perspective. Most homeowners today have a substantial amount of equity built up in their homes, and that means they stand to make significant gains when they sell. Chances are, you do too. This can help quickly recoup these selling costs. You may even have enough equity leftover to put some toward your next home purchase too.
Let’s dive into a few of the costs from the graph above, so you have a bit more context on what they include and where you may be able to save some money, when it makes sense.
Closing Costs and Commission
These are the fees you’ll pay at the closing table to cover various aspects of the sale. You’ll have your own closing costs and you may even offer to pay some of the buyer’s as a concession. As U.S. News Real Estate explains:
“Closing costs are fees that are paid to finalize the transaction and transfer ownership of the home to the buyer . . . Sellers can expect to pay 2% to 4% of the sale price of the home in fees and taxes on top of the agent commission. Based on the national median home sale price, this means that closing costs in 2023 for sellers are about $7,740 to $15,480. . .”
Taxes are going to vary by state and agent commissions depend on what you agree upon upfront. And keep in mind, that the numbers in the chart above are just an example, not exact figures. Not to mention, if you put money toward things like your property taxes, mortgage escrow, etc. as part of your current mortgage payments – there’s a chance you’ll get a credit back at closing that can help offset some of these selling expenses.
Pre-Listing Inspection and Repairs
One optional step some sellers take is having a pre-listing inspection. It gives you an idea of what may pop up later on in the buyer’s inspection – because those are the items a buyer may ask you to toss in a credit (or concession) to cover later on.
This allows you to get a jump on any repairs and tackle them before you list, so your house is set up to impress from the start.
Again, if you want to skip this step, an agent can help. They’ll be able to give you advice on things like paint colors, small cosmetic repairs, what buyers are looking for, and whether it’s worth tackling anything else ahead of time. This will help make sure you’re spending money on things that are most likely to net you a solid return on your investment.
Home Staging
As inventory grows, you may want to take a few extra steps to make sure your house stands out. Staging is an optional way to make sure your house shows well. It can include bringing in rental furniture if the house is vacant or art to warm up the walls. Some staging can even be done virtually once the photos are taken. But, in general, how much does it cost? According to Bankrate:
“Home sellers typically pay somewhere between $782 and $2,817 in home staging costs . . . but the price tag can vary widely.”
If you want to skip this step, you could opt to lean on your agent’s advice for what looks good and what may feel cluttered. A great agent will suggest things like removing a chair to open up the flow of a room, laying down a rug to add warmth to a space, or taking down photographs to de-personalize strategic areas.
Why Leaning on an Agent Is Key
If you’re looking to cut down on your costs, you have options. But be careful of where you trim. You may be able to skip staging or a pre-listing inspection since those are optional, but you don’t want to skimp and sell without a pro.
An agent is your go-to expert throughout the transaction. They’ll offer customized advice every step of the way, including how to stage the house and what repairs to tackle. This can help you avoid hiring an outside stager or having to pay for a pre-listing inspection.
But that’s not the only way your agent adds value. They’ll also create tailored marketing and pricing strategies that’ll highlight the house’s best assets and any work you did to get the home show ready. And that can actually help your house sell for more in the long run.
Bottom Line
Want a better picture of what you should expect when you sell your house? Let’s have a conversation and walk through it together.
If you’ve been wanting to sell your house and move up to a bigger or nicer home, you’re not alone. A recent Inman survey reveals the top motivator for today’s homebuyers is the desire for more space or an upgraded home (see graph below):
But there’s also a good chance you, like many other people, have been holding off on that goal because of recent market challenges. It makes sense – when you’re planning an upgrade that could increase your monthly housing costs, affordability has a huge impact on when you make your move. But there’s good news: now’s actually a great time to make that move happen. Here’s why.
You Have a Lot of Equity To Leverage
One of the key benefits in today’s market is the amount of equity you’ve likely built up in your current house over the years. Even with recent shifts in the housing market, national home prices have steadily grown, adding to the equity homeowners have today. Selma Hepp, Chief Economist at CoreLogic, explains it well:
“Persistent home price growth has continued to fuel home equity gains for existing homeowners who now average about $315,000 in equity and almost $129,000 more than at the onset of the pandemic.”
What does that mean for you? If you’ve been in your home for a few years, you’re probably sitting on a significant amount of equity. You can put that toward the down payment on your next home, helping keep the amount you borrow within a comfortable range.
This can make upgrading more achievable than you might think. If you’re curious how much you’ve built up over the years, ask your real estate agent for a professional equity assessment.
Mortgage Rates Have Fallen, Boosting Your Purchasing Power
And there’s another big reason why now’s a great time to make your move: mortgage rates are trending down. Lower rates can help make your future monthly payments more manageable, and they also increase your purchasing power. As Nadia Evangelou, Senior Economist and Director of Real Estate Research at the National Association of Realtors (NAR), points out:
“When mortgage rates fall, the interest portion of monthly payments decreases, which lowers the total payment. This makes it easier for more borrowers to . . . qualify for mortgages that may have been unaffordable at higher rates.”
That gives you more flexibility when shopping for homes and may allow you to afford a house at a price point that was previously out of reach. A trusted lender can work with you to figure out the best plan for your budget.
Bottom Line
If you’re ready to sell your current home and find the bigger, nicer home you’ve been dreaming of, don’t wait. Your equity, paired with lower mortgage rates, puts you in a great position to make that move today.
To make the best decisions and get the most out of your current market advantage, let’s connect so you have an expert guide through every step of the homebuying process.
Should you buy a home now or should you wait? That’s a question a lot of people have these days. And while what’s right for you is going to depend on a lot of different factors, here’s something you’ll want to consider as you make your decision.
As soon as you buy, you’ll start gaining equity. And you’d be surprised how quickly that can add up – even with more moderate home price appreciation.
Each quarter, Fannie Mae releases the Home Price Expectations Survey. It asks over one hundred economists, real estate experts, and investment and market strategists what they forecast for home prices over the next five years. In the latest release, experts project prices will continue to rise nationally through at least 2028 (see the graph below):
While home prices are going to vary from one local area to the next, this shows they’re expected to keep going up nationally. The size of the increase varies from year-to-year, but the important takeaway is that prices are forecast to rise every single year – just at a moderate pace.
And while rising home prices may not sound great right now, once you own a home, that growth will be a big bonus for you. Here’s a look at what you stand to gain equity-wise once you buy. The graph below uses a typical home’s value and those HPES projections to show how much equity is at stake:
If you bought a $450,000 home at the beginning of this year, based on that starting value and the expert forecasts from the HPES, you could gain more than $90,000 in household wealth over the next five years. That’s significant.
So, if you’re ready and able to buy, and growing your wealth is important to you, you’ve got an opportunity in front of you. And now that mortgage rates have fallen, it may be time to consider making a move.
To talk more about your options and what makes sense, lean on a pro. They’ll be able to tell you what home prices are doing in your area and what that means for your move (and your future equity). The Mortgage Reports says:
“Given the intricacies of the current market, it’s more important than ever to stay informed and up to date about housing market conditions. Whether you’re looking to buy or sell in the remaining months of 2024, having a professional guide you through the process can make all the difference.”
Bottom Line
The decision to buy now or wait is a very personal one, but it’s valuable to have an expert’s perspective. They won’t push you, but they will explain things you may not have considered, like the equity that’s at stake.
If you want help weighing your options and thinking through how the current market factors in, let’s connect.
FOR SALE
→532 Jade St., Petaluma
$825,000
3 Bedrooms
2.5 Bathrooms
1,907 sq. ft.
Year Built 2017
$825,000
Welcome to 532 Jade Street in the highly sought-after Quarry Heights! Nestled in the heart of West Petaluma and constructed in 2017, this remarkable split-level end unit home boasts three bedrooms, two and a half baths, and 1907 square feet of living space. Enjoy breathtaking open views of downtown Petaluma from the comfort of your own private backyard.
This home has been meticulously curated with hand-selected upgrades, flooding the living room with abundant natural light. Gleaming engineered hardwood floors, granite countertops, and stainless steel appliances grace the interior. Additional features include a spacious walk-in pantry, upgraded hardware, central heating and air conditioning, and a built-in home theatre system. The low-maintenance backyard, bordered by open space, provides a serene retreat.
The open-concept layout seamlessly integrates the kitchen, dining, and living areas on the main level. The primary suite offers tranquil views of the nearby pasture, where deer often roam. A two-car garage and easy access to HWY 101 enhance convenience.
Residents of Quarry Heights enjoy access to outdoor parks, private walking paths, sports courts, playgrounds, and a clubhouse. This prime location is in close proximity to Petaluma's finest restaurants, shopping destinations, community parks, outdoor recreational activities, and esteemed local schools. Experience the epitome of modern living in this exceptional home.
| MLS ID: 324031921
Bedrooms: 3 Bathrooms: 2.5 Square Feet: 1,907 Year Built: 2017 |
Lot Size: 510 sq. ft.
Subdivision: Quarry Heights Size: Multi Story Parking: 2 Car Garage HOA: Yes $342/monthly |
- West Petaluma
- Quarry Heights
- Split Level
- Breathtaking Views
- Private Backyard
- Engineered Hardwood Floors
- Granite Countertops
- Stainless Steele Appliances
- 2 Card Garage
- Sports Courts
- Clubhouse
- Access to Petaluma's Finest
WHO YOU WORK WITH MATTERS
Timo Rivetti has been serving his clients with a highly individualized service tailored to specific needs and requirements since 1998. Unparalleled knowledge and expertise in the region is invaluable when it comes to buying and selling real estate. Hiring an agent who knows the area inside out makes all the difference in a competitive market. Timo and his team of experienced professionals work with each and every client to find and secure the perfect property at the best price, with all of the required amenities in the right neighborhood. When it’s time to make a move, call Timo.
I value 1:1 relationships and have the utmost respect for the work we do together. I love working collaboratively with you to achieve your goals. I am committed to transparency and integrity. Using my professional experience and motivated enthusiasm, I will work step-by-step with you to achieve the outcome you're seeking by developing a tailored marketing plan, briefly outlined below.
What My Clients Have To Say
Every seller wants to get their house sold quickly, for as much money as they can, with as few headaches as possible. And chances are, you’re no different.
But did you know one of the biggest things that could jeopardize your success is the asking price for your home? Pricing your house correctly is one of the most crucial steps in the selling process.
So, how do you know if you’re missing the mark? Here are four signs your high asking price might be turning potential buyers away—and why leaning on your real estate agent is the best way to course correct.
1. You’re Not Getting Many Showings or Offers
One of the most obvious signs your house may be overpriced is a lack of showings. If it’s been on the market for several weeks and only a few buyers have come to see it—or worse, you haven’t gotten any offers—it could be a clear indication the price isn’t matching up with what buyers expect. Because buyers who have been looking for a while can easily spot (and write off) a home that seems overpriced.
Your real estate agent will coach you through this, so lean on their experience for what you may want to try to bring more buyers in, including considering a price cut.
2. Buyers Have Consistent Negative Feedback after Showings
And if after the showings you do have, comments from the potential buyers aren’t great, you may need to course correct. Feedback from showings is an important part of understanding how buyers see your house. If they consistently say it’s overpriced compared to other homes they’ve seen, it’s time to reconsider your pricing strategy.
Your agent will gather and analyze this feedback for you, so you can look at how your house stacks up in the market. They can also suggest specific improvements or staging changes to better justify your asking price, or recommend one that aligns with today’s buyer expectations. As the National Association of Realtors (NAR) explains:
“Based on all the data gathered, agents may make adjustments to the initial price recommendation. This could involve adjusting for market conditions, property uniqueness, or other factors that may impact the property’s value.”
3. It’s Been on the Market for Too Long
And that lack of interest is ultimately going to lead to it sitting on the market without any serious bites. The longer it lingers, the more likely it is to raise red flags for buyers, who may wonder if something is wrong with it. Especially in today’s market with growing inventory, a long listing period means your house is stale – and that makes it even harder to sell.
Your real estate agent will be able to give you perspective on how quickly other homes in your area are selling and walk you through what’s working for other sellers. That way you can decide together if there’s something you want to do differently. As a Bankrate article says:
“Check with your agent about the average number of days homes spend on the market in your area. If your listing has been up significantly longer than average, that may be a sign to reduce the price.”
4. Your Neighbor’s House Sold Without an Issue
And here’s the last one to watch out for. If similar homes in your area are selling faster than yours, it’s a clear sign that something is off. This could be due to things like a lack of upgrades, outdated features, or a less desirable location. Or, it may be priced too high.
Your agent will keep you up to date on your competition and what changes, if any, you need to make your home more competitive. They’ll offer advice on small updates that could increase your home’s appeal or how to adjust your strategy to reflect the reality of the market today.
Bottom Line
Pricing a home correctly is both an art and a science. It requires a deep understanding of the market and buyer psychology. And when the price isn’t drawing in buyers, there’s no better resource than your agent on what you may want to do next.
Petaluma
1727 Zinfandel Drive
3 bedrooms, 3 Baths, 2,147 sq. ft.
$1,060,000
IN CONTRACT
IN CONTRACT
→ 1727 Zinfandel Dr.
$1,060,000
3 Bedrooms
3 Bathrooms
2,147 sq. ft.
Year Built 1992
$1,060,000
Welcome to 1727 Zinfandel, situated in one of East Petaluma's most sought-after neighborhoods. This beautifully updated residence offers 3+ bedrooms, 3 full baths, and a versatile downstairs office—ideal for remote work. The chef's kitchen stands out with its premium Wolf range, perfect for culinary enthusiasts. Step outside to a backyard built for entertaining, complete with a built-in BBQ, sunken hot tub, and spacious flagstone patio, making it the ideal spot for gatherings. The home also features an oversized 2-car garage, HVAC system, fresh interior paint, and a newly updated exterior. Located in the highly rated Meadow School District, families will benefit from an award-winning education for their children. The neighborhood is full of energy, with nearby Leghorn Park offering pickleball, tennis courts, BBQ areas, scenic walking trails, and easy access to downtown Petaluma’s charming boutiques, restaurants, and community events. Commuting is effortless with close proximity to major highways, yet the serene surroundings provide a peaceful retreat from city life.
Living in Petaluma offers an exceptional lifestyle, blending small-town charm with modern conveniences. The historic downtown area is known for its vibrant atmosphere, where you’ll find boutique shopping, artisan eateries, and the picturesque riverfront, perfect for scenic strolls. Petaluma’s prime location allows easy access to all that Sonoma County has to offer, from world-class wineries to beautiful beaches and endless hiking opportunities. Just a short drive from Marin and San Francisco, Petaluma provides a perfect balance of rural tranquility and urban accessibility, making it an ideal place to call home.
MLS ID: Off-Market
3+ Bedrooms
3 Bathrooms
2,147 sq. ft.
6,477 sq. ft. Lot
Subdivision: Sonoma Glen
Levels: Multi-Story
2 Car Oversized Garage
HOA: No
Bonus Office Space
East Petaluma
Gourmet Kitchen
Professional Wolf Range
Backyard Oasis
Built In BBQ
Sunken Hot Tub
Flagstone Patio
HVAC System
Meadow School District
Near Leghorn Park
MLS ID: Off-Market
3+ Bedrooms
3 Bathrooms
2,147 sq. ft.
6,477 sq. ft. Lot
Subdivision: Sonoma Glen
Levels: Multi-Story
2 Car Oversized Garage
HOA: No
Bonus Office Space
East Petaluma
Gourmet Kitchen
Professional Wolf Range
Backyard Oasis
Built In BBQ
Sunken Hot Tub
Flagstone Patio
HVAC System
Meadow School District
Near Leghorn Park
WHO YOU WORK WITH MATTERS
Timo Rivetti has been serving his clients with a highly individualized service tailored to specific needs and requirements since 1998. Unparalleled knowledge and expertise in the region is invaluable when it comes to buying and selling real estate. Hiring an agent who knows the area inside out makes all the difference in a competitive market. Timo and his team of experienced professionals work with each and every client to find and secure the perfect property at the best price, with all of the required amenities in the right neighborhood. When it’s time to make a move, call Timo.
I value 1:1 relationships and have the utmost respect for the work we do together. I love working collaboratively with you to achieve your goals. I am committed to transparency and integrity. Using my professional experience and motivated enthusiasm, I will work step-by-step with you to achieve the outcome you're seeking by developing a tailored marketing plan, briefly outlined below.
Every Home Has A Story...
What My Clients Have To Say
A shift is underway in the housing market this season. And if you’ve been sitting on the sidelines waiting for the right moment to jump back into your homebuying search, this is a great time to do it. That’s because the best week to buy a home this year is just around the corner. Your sweet spot is here.
The experts at Realtor.com study seasonal trends to figure out the ideal week for homebuyers:
“Nationally, the best time to buy in 2024 is the week of Sept. 29–Oct. 5. This week historically has shown the best balance of market conditions that favor buyers. Inventory tends to be high, prices are below peak levels, demand is waning, and the pace of the market slows to a more manageable speed.”
In addition to the historical trends and typical seasonality that Realtor.com looks at, there are also clear indicators in today’s market data that you’ll see better conditions right now than you would have over the last few years.
Mortgage rates just hit their lowest point in 19 months, and that goes a long way to help with your purchasing power and affordability. Andy Walden with Intercontinental Exchange Inc. (ICE) points out:
“Recent easing in mortgage rates brought some much-sought relief to prospective homebuyers. Along with a general cooling in home price growth, rates falling below 6.5 percent made August the most affordable month for housing since February.”
And Ralph McLaughlin, Senior Economist at Realtor.com, explains that it’s not just rates that have improved – inventory has too:
“The number of homes actively for sale continues to be elevated compared with last year, growing by 35.8%, a 10th straight month of growth, and now sits at the highest since May 2020.”
That should give you more options. At the same time, sellers now have to compete with each other for your attention. That means they’ll be more likely to negotiate because they know their house will sit on the market longer if they don’t. As Zillow says:
“Buyers waiting on the sidelines could find that early fall presents a ‘sweet spot,’ where there’s less competition from other buyers, more motivated sellers and lower interest rates to finance their purchases.”
Bottom Line
If you want to make sure you’re ready to take advantage of this sweet spot, let’s connect and start the prep work now. Maybe it’s time to get off the sidelines and into the action.
There are a number of reasons you may be thinking about selling your house. And as you weigh your options, you may find you’re unsure how you’re going to deal with one thing about today’s housing market – and that’s affordability. If that’s your biggest concern, understanding how much equity you have in your house could help make your decision that much easier. Here are two key factors that have a big impact on your equity.
How Long You’ve Been in Your Home
First up is homeowner tenure. That’s how long homeowners live in a house, on average, before selling or choosing to move. From 1985 to 2009, the average length of time homeowners stayed put was roughly six years.
But according to the National Association of Realtors (NAR), that number has been climbing. Now, the average tenure is 10 years (see graph below):
Here’s why that’s such a big deal. You gain equity as you pay down your home loan and as home prices climb. And when you combine all of your mortgage payments with how much prices have gone up over the span of 10 years, that adds up. So, if you’ve lived in your house for a while now, you may be sitting on a pile of equity.
How Home Prices Appreciate over Time
To help show how much the price appreciation piece adds up, take a look at this data from the Federal Housing Finance Agency (FHFA) (see graph below):
Here’s what this means for you. While home prices vary by area, the typical homeowner who’s been in their house for five years saw it increase in value by nearly 60%. And the average homeowner who’s owned their home for 30 years saw it more than triple in value in that time.
Whether you’re looking to downsize, relocate to a dream destination, or move so you can live closer to friends or loved ones, your equity can be a game changer.
Bottom Line
If you want to find out how much equity you’ve built up over the years and how you can use it to buy your next home, let’s connect.
Timo Rivetti
Broker Assoc. Managing Partner
NavigateRE
707.477.8396
timo@rivettiteam.com
DRE Lic# 01240796
DRE Lic# 02221115
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