Home equity is the portion of your property that you truly “own.” Equity is the portion of your home that you own after subtracting any debt you still owe against it. Your lender has an interest in the property until you pay off your mortgage, although you’re still considered to be the homeowner. Home equity is often an owner's greatest asset. It can be used later in life, so it pays to know how it works and how to use it wisely. You can use your equity to finance other needs, such as home improvements or education, or convert it to cash when you sell the home. You increase equity in two ways: by raising your home's value or lowering your mortgage debt. There are many ways to access your home equity including selling your home, taking out a home equity line of credit, and even doing a reverse mortgage. Check out this FABULOUS resource on home equity and all the options below!

Tapping Into Your Home Equity

Here Are This Week's Most Current Listings! Issue #21

Single Family Homes🏠 Space for Family, Pets and all Your Toys Townhomes & Condos Low Maintenance Living At It's Best

One Level Living Ramblers/ Ranches, Main Floor Master All Lakeshore & Waterfront⛵ Land of 10,000 Lakes!

Foreclosures / Bank Owned Investment Opportunities Country Living🌻 5+ Acres Homes, Hobby Farms

📈Weekly Southeast Minnesota Market Watch

​About half (51%) of U.S. homeowners with mortgages have a mortgage rate under 4%—substantially below today’s level of 5%. About one-third (32%) of all homeowners—including those without mortgages—have a mortgage rate under 4%. With rates now at their highest level in over a decade, many of these homeowners may be incentivized to stay put because selling their home and buying another could mean giving up their ultra-low mortgage rate and increasing their monthly housing bill. This may be contributing to a decline in home listings. That’s according to a Redfin analysis of Federal Housing Finance Agency (FHFA) data from the fourth quarter of 2021—the most recent period for which data was available. This report covers roughly 80 million owner-occupied U.S. households, of which about two-thirds (62%) have an outstanding mortgage. We refer to these households as “homeowners” throughout this analysis. The average mortgage rate was 4.2% as of the fourth quarter. Read More HERE

👉 Weekly Spotlight: Wasioja Seminary Ruins

The Wasioja Seminary was established in 1857, in what was then the public square of the village of Wasioja. The Seminary was constructed using Wasioja limestone that was mined from nearby quarries. The Seminary was dedicated in 1858, and instruction began by the Free Will Baptists. The Seminary had enrollment of over 300 students prior to the Civil War and by 1860 it was renamed Northwest College. In 1905, a large fire gutted the building and all that remained are the ruins seen today. Today, the ruins are maintained and managed by the Dodge County Highway and Parks Department, with guidance from the Dodge County Historical Society and assistance from the Friends of Wasioja. The ruins and the nearby historic buildings were designated a State Historic District in 1971, and listed on the National Registry of Historic Places in 1975. Detailed history and original photos: Visit Dodge County Historical Society

🌞8 Spring Tasks to Foster a Great Lawn🦗

When spring is in the air, the first crocuses and daffodils appear to mark the coming of the season. These early signs also tell to you that it's time to get your lawn ready. The exact timing of lawn care tasks depends upon the climate in your region. If you get snow in your area, start when you are confident the snow season is over. Or start your yard work when the local forsythia plants stop blooming and the local lilac bushes begin to flower. For homeowners in most regions, there are 8 tasks you should complete in the spring to foster a healthy lawn. Read the Rest of the Article >>> HERE

📢 The Southeast MN Blog - This Week's Post

A multigenerational household consists of two or more adult generations living under the same roof. Examples include a couple who still has an adult child living at home, or an adult who lives with and cares for aging parents. Check out this statistic: Eighty-four million Americans, that’s 20% of the population, now live in multi-generational households that include two or more adult generations or grandparents and grandchildren younger than 25! It’s much more common than you think! Visit my weekly blog and Keep Reading

Ann M Huddock I'm here for you...Your REALTOR® for Life For the record. it doesn't matter to me when you buy, sell, or refinance. My goal is to help you when the time comes. Thank you for your time!

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