Home equity is the difference between your home’s “Fair Market Value” and the outstanding balances of all liens, including home mortgage(s) on your home.
Your home equity can increase over time as you make mortgage payments, as the property value appreciates, or as you make improvements to the home or property that increase the “Fair Market Value.”

The Value of Home Equity
The amount of equity you have in your home can play an important role in your financial life. For many homeowners, the equity they have achieved in their home is the largest financial asset they have.

How Equity Can be Used (Benefits)
The equity you have achieved in your home can be beneficial in many ways. You may want to borrow money against the home equity to make repairs or property improvements, which can further increase the equity in your home. Many homeowners are able to use their home’s equity to pay off high interest credit cards by obtaining a low interest “home equity” loan. In addition, many older homeowners use their home equity as a type of “insurance” against unexpected events or to provide nursing home care. Home equity is a valuable, practical asset for most homeowners.

Selling Your Home
When you are ready to sell your home by placing it on the homeselling market, setting an “asking” price is the first important step. It is critical to price your home fairly and to reflect current market conditions in your area. If you price your home too high, you could lose good potential buyers in your early marketing. Some people believe that your best buyers are “your first buyers,” because they are buyers who are highly motivated to buy “now.” They are watching the market intently, and when a new home comes on the market, they will want to see it immediately. These buyers may have lost another house to other buyers, and are anxious not to have that happen again. Other buyers may have a need for a particular location, which your house matches, and if you reduce your price later, these buyers may have already found another house. On the other hand, you do not want to price your home too low either, thus not being able to maximize your home equity. Harlan Hein & Associates, with 40 years of home marketing experience in the La Crosse Area, can help you determine the asking price for your home.

Equity $aver 3.9% Full Service MLS
By pricing your home to today’s market, combined with our full MLS market exposure, including the major homeselling websites like, Zillow, Trulia and 50+ others, we can help you achieve your homeselling goals.

We are only a phone call away. Call today for a free, no obligation consultation. Tel. (608)781-8114 or (608)519-6429!