Looking at recent sales data, it is clear that home values in Castro Valley are on the rise for the first time in years. The median sale price during the second quarter of this year was $593,423, an increase of over 11% from the median price of $534, 900 just 3 months earlier. If we look at the last 12 months, the median sale price is up 27%. While gains like these are outstanding, they are even more impressive when you consider that most of the gain may be tax free if you lived in that home as your main residence for 2 of the last 5 years!
Even if you are not considering a move right now, knowing your home’s current value is still important. If you’re like most people, the home you live in is the largest asset you have. The fact that it is also the place where you and your family spend most of your time makes it even more important to know its worth. There are several reasons why you should keep up-to-date on your home’s value:
- Refinance: Reduce your monthly expenses by refinancing your loan.
- HELOC: Use a Home Equity Line of Credit to finance desired upgrades.
- Peace of mind: Know exactly where you stand financially.
A proper valuation arms you with information on your home and your financial position. Feel free to contact us with any questions.
*Home prices based on information from Bay East Association of Realtors
