Linda Craft & Team, REALTORS® Commentary: Rising Home Prices Help Millions
Earlier this year, March 2014 marked the 25th consecutive month of year-over-year increases in home prices, according to the CoreLogic Home Price Index Report. For millions of homeowners nationwide, the increased home prices mark an end to struggles that began with the housing crisis.
During the housing crisis, home prices dropped precipitously. The drop in prices left millions underwater on their mortgages, owing more on their home than the property was worth. However, the recent increase in home prices in greater Triangle-area is ending mortgage struggles for many.
“Home prices have increased significantly,” said Linda Craft, CEO of Linda Craft & Team, REALTORS® & Certified Distressed Property Expert (CDPE). “Many homeowners have finally regained equity in their homes. Many people don’t realize just how much things have improved. The same factors driving prices have also made today’s market a seller’s market. Today, homeowners who have been struggling in recent years have more options than at any time in the last five or six years.”
Several market conditions combined to drive the recent price increases, such as limited inventory, more people looking to buy a home, and fewer distressed properties.
The CDPE designation provides real estate agents with the tools and knowledge needed to efficiently, ethically and effectively pursue foreclosure alternatives, specifically short sales. In addition to their initial training, CDPE-designated agents are connected to a network of professionals via the Charfen Institute, allowing them to remain regularly updated on the complex and quickly changing real estate market. The free report entitled “Needing a Second Chance?” is accessible from her website, http://www.raleighrealestateforeclosures.com at: http://www.raleighrealestateforeclosures.com/Need-A-Second-Chance.aspx.