Maggie's Reverse Mortgage Blog : April 2014

Reverse Mortgage Borrowers Benefit from Home Appreciation

US Home Price Comparison Maps 

States where seniors are using Reverse Purchase Mortgages

Comparing the two maps below provide a good look at where we are today with where we were before the housing crash. For seniors looking to tap into there equity with a Reverse Mortgage, it's clear the recovery has a big impact in proceeds available to supplement retirement.

U.S. House Price Performance By State (December 2012 to December 2013)

Reverse mortgage borrowers benefit from home appreciationU.S. House Price Performance By State (December 2012 to December 2013)

Reverse Mortgages in United States were impacted by home depreciation

 

California reverse mortgage borrowers see home values almost back where they were before the financial crisis. Although this is an average, some areas have not recovered as much as others.  The largest appreciation seems to be in the Bay Area, costal communities and parts of Southern California.  Nevada had the largest home value loss and good gain but still not where it was pre-crash.  That's why we see high interest in #reversemortgagepurchase, particularly Reno and Las Vegas #SeniorCommunities.  Other states that still haven't fully recovered and may be good value for #HECMpurchase are Arizona, Hawaii, Florida, Illinois, Michigan, Minnisota, Oregon, Washington, Georgia, New York and Mid-Atlantic States.

Maggie O'Connell, 800-489-0986  NMLS#279499

 

Comment balloon 2 commentsMaggie O'Connell • April 19 2014 05:43AM
Reverse Mortgage Borrowers Benefit from Home Appreciation
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US Home Price Comparison Maps States where seniors are using Reverse Purchase Mortgages Comparing the two maps below provide a good look at where we are today with where we were before the housing crash. For seniors looking to tap into… more
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