How is that for good news?
In North Carolina, the average loan-to-value (the amount of the first mortgage compared to the value of the home) is 63% (the nationwide average is 56.9%). It shares only 5.7% of the nation’s negative equity (the average is 8%), so 94.3% of mortgaged homes have equity. Of those, 71.3% have a significant amount of equity. It’s safe to say that North Carolina homeowners are doing pretty well as a whole.
If you’re thinking of selling your Wilmington area home, give us a call at (910) 202-2546 or send us a message through our contact page. We’d be happy to create a Comparative Market Analysis for your home, which provides a closer, more accurate look at your home’s value than our monitoring system.