Soaring home prices over the past year boosted home equity wealth to new highs through Q4 2021. The amount of equity in mortgaged real estate increased by more than $3.2 trillion in Q4 2021, an annual increase of 29.3%, according to the latest CoreLogic
Homeowner Equity Report. The average annual gain in equity in the U.S. was $55,300 per borrower, more than two times the gain from a year earlier. In California that average was $117,000! (CORELOGIC)
The median age of a US homebuyer has risen from 31 in 1981 to around 45! If we average leaving home around the age of 20 and rent for 25 years before buying, that equates to $300k lost to rent if your rent is $1,000/month..... $600k if it's $2,000/month.....and $1million if you average $3,333/month! (FT)
Household net worth rose 14.4% in 2021, measured from year-end 2020 to year-end 2021, more than DOUBLE the average net worth growth rate of 6.2% from 2015 - 2019. Owners’ equity in real estate as a percentage of household real estate owned was 69.3% at year-end 2021, its highest level since early 1987.
When evaluating the incredible savings you can achieve by living in a LOW TAX STATE, always be sure to do an accounting of the complete picture, to understand real estate taxes, sales taxes, insurance costs (a form of tax), etc. Some states derive amazing revenues from tourism taxes and commodities. Some get more fiscal aid from the Federal Government than others. Some have older populations than others that may require less tax income for public schools, a big expense for many towns and states. Check out school quality and availability. Weather and climate change matter too. Also be sure to check out cost of living and incomes as well as medical costs/availability/quality and crime stats. Everyone's needs from their city/state are different so a curated approach is usually wiser. (BARRONS)
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5 Bed | 3.5 Bath | $2,100,000 | Compass Listing
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Welcome to this stunning home located in the highly desirable Hidden Valley neighborhood. Enjoy this spacious open floor plan, with impressive 20 foot ceilings, perfect for everyday living and entertaining. Highlights of this home include updated kitchen and bathrooms, elegant living room with a fireplace, beautiful hardwood floors, large bedrooms and a spacious primary suite with a private balcony overlooking the valley. The family room is lined with large windows that provide great natural light and provide a view of the tranquil garden. The location cannot be beat, surrounded by lush hills, friendly neighbors, and not far from award winning schools and downtown Danville. Former model home!
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5 Bed | 3 Bath | $2,500,000 | Compass Listing
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Remodeled one story home located on a private corner lot with resort-like yard. Modern updates throughout include gleaming hardwood floors, stainless kitchen with center island, updated bathrooms, and more. The floorplan includes a living room with fireplace, spacious dining room, cozy family room, and bonus room. The luxurious master bedroom features a remodeled bathroom and walk-in closet. There are four secondary bedrooms and two additional full bathrooms plus a huge laundry/mud room, and 3 car garage. The incredible yard is an entertainer’s dream with sparkling pool and spa, huge entertaining pavilion with TV and outdoor lighting, built-in BBQ, and fire pit.
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109 Shadewell Drive, Danville, CA 94506
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5 Bed | 4.5 Bath | $2,798,000 | Compass Listing
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Stunning backdrop of hills and views of Mt.Diablo. Grand entry with sweeping staircase and soaring ceilings, formal living room with gas fireplace, dining room with alcove and French doors leading to backyard. Updated kitchen with white cabinets, high end appliances, Dacor 6-burner gas cooktop, oven, 2 sinks, beverage fridge and built-in desk. Primary retreat with en-suite bath on own level for privacy. Lots of windows, inset lighting, double sink vanity, mirrored closet with cedar lined floor, large tub, separate shower and toilet area. Pass thru fireplace leading to primary bedroom with huge walk-in closet. Fifth bedroom used as office with French doors and built-in cabinets, en-suite bath.
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4 Bed | 4+ Bath | $12,500,000 | Compass Listing
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Magnificent, contemporary home in a wooded setting, located directly on Dawdler ski run, one of the main beginner ski trails in the center of the Village. This property was completely renovated in 2021, inside and out. Elegant Kansas limestone block exterior and retaining walls. Beautiful south-facing, heated stone patios. Snowmelted circular driveway and 3-car garage. Virtually every surface, every fixture inside is new and of the highest quality. Two new granite gas fireplaces, new Pella windows, all interior and exterior lighting replaced with LED fixtures; stunning Italian chandeliers in all main rooms. All new kitchen stainless Viking appliances including 8-burner gas range, 2 dishwashers, warming drawer, microwave and beverage refrigerator; also 2 sub-Zero refrigerator/freezers.
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© Compass 2022 ¦ All Rights Reserved by Compass ¦ Made in NYC
Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. Equal Housing Opportunity.
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