The equity in my home has jumped!!!!

In the last 2 weeks I’ve received calls from a friend and a client who have a wonderful problem
Homes they bought for $125,000 and $127,600 respectively three years ago are now worth over $200,000. Nice predicament!!! Their question to me was “What do we do?”

Both homes are located in Cypress. I love the Northwest Houston real estate market. I’m so glad to be part of these exciting times.

I shared with my friends that every situation is unique. Here are some of the things we talked about.

•    Should I sell?
This is a fully loaded question, and the answer depends on several factors.  What is the present trend in the market? Up, down or will it level out? I have my OWN opinion on this and shared it with them. However, I helped them formulate and understand their own opinion.
Questions like, why did I buy the home in the first place? Where would I live after I sell my home? What do I plan to do with your this sudden windfall?  Would I regret it if I passed up the opportunity to cash out now and the market takes a sudden downturn? Should I take advantage of the still low interest rates to acquire a bigger house or should I be frugal, downsize, and save my money for a rainy day?  Should I take out a home equity loan, payoff some debt and improve the home?

We addressed all these and much more in detail. I’ve dealt with a lot of real estate challenges for my clients. This one was particularly sweet.

•    Conclusion
As I’m sure it’s now most evident to you, there is no “one size fits all answer”.  
However I know one thing.  I’m the REALTOR you want by your side, guiding you through your choices.
P.S.  Click here.  Know what your home is worth. Maybe you have the same problem as my friends