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January 2012

Show Me The Equity!

By | Financing | No Comments

Why build a new home? Lots of reasons. Take an example of one family here in Pierce County, Washington State. Right before the crash in the latter parts of 2007/8 a True Built Home family was putting the finishing touches on a large rambler. At the time it appraised for over $500k. As the market collapsed, so did their “equity” in their home/investment. They recently refinanced to take advantage of historical low rates and it recently appraised for $420k. They lost nearly $100k in value. Now, how much equity do they still have? The houses’ original construction loan was 326k. So Read More