Home Equity and Real Estate in Charlotte NC, Perception or Reality

   It’s oh so tempting to consider home equity as concrete when it comes to real estate in Charlotte NC.  Tempting to be thrilled when you think your home equity’s increased, and depressed when you think you’ve “lost” equity in your Charlotte NC home.

  The reality though is that home equity for real estate in Charlotte NC is purely imaginary until the time that you actually sell (and close successfully) your home in Charlotte NC.  (Yes, if you refinance the same would hold true, but taking out equity can be a slippery slope – your house isn’t an ATM machine)  Until the time you pass on ownership of that real estate in Charlotte NC to a buyer, any perceived home equity in your Charlotte NC home is just that…perceived.  It’s not real.

  So if home equity for your real estate in Charlotte NC isn’t real, it’s simply impossible to ever “gain” or “lose” equity.  It’s just not possible to lose or gain what you don’t actually have.  Home equity in your Charlotte NC home is imaginary and simply a perception until you actually sell that Charlotte NC home (or take out $ when refinancing).

   Look, you can literally make yourself sick thinking about any home equity that may have been perceived in the past compared to current real estate market conditions relative to your Charlotte NC home.  Unless you have a true need, desire or circumstance to sell your home in Charlotte NC right now, it’s still all perception when it comes to home equity and your real estate in Charlotte NC.  There’s no home equity vault sitting in your closet that’s leaking money day by day.   And there was never a stream of cash flowing into that imaginary vault when Charlotte NC home prices were steadily rising. 

   Home equity and real estate in Charlotte NC isn’t stagnant, it changes over time.  Up, down and sometimes constant.  Without a sincere and pressing need to sell your home in Charlotte NC right now, sit back, enjoy living in your home and wait.  Real estate values in Charlotte NC are NOT always guaranteed to rise, but they’re also not guaranteed to fall forever either.  For now, enjoy your home and worry about (or celebrate) whatever equity you have in your Charlotte NC home….when you go to sell.

Copyright©2009 by Diane McDermott, All Rights Reserved, “Home Equity and Real Estate in Charlotte NC, Perception or Reality”

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About dianemcdermott

Diane is deeply passionate about serving single and divorced women home buyers, first time home buyers and new to the area buyers navigate the Charlotte area home buying process. Having navigated separation and divorce she has deep respect for the stress of transition and need for a home living situation that supports and nurtures. She connects and guides clients as they navigate the home buying process, transitioning to a space they'll love calling home. McDermott Real Estate
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