Cities Where Owners Are Turning to HELOCs
As housing prices rise, more households are tapping into home equity lines of credit. Residential property owners secured 393,602 HELOCs in the third quarter of this year, up 19 percent from the previous quarter and 12 percent from a year ago, according to ATTOM Data Solutions’ Q3 2017 U.S. Residential Property Loan Origination Report
Among the 120 metro areas ATTOM Data Solutions analyzed for the report, the following had the largest year-over-year increases in HELOCs:
- Reno, Nev.: up 80 percent
- Fort Wayne, Ind.: up 74 percent
- Peoria, Ill.: up 46 percent
- Bremerton, Wash.: up 45 percent
- Dallas: up 43 percent
ATTOM Data Solutions also notes that 43 of the 120 metros saw a year-over-year decrease in HELOC loan originations, including:
- Houston: down 17 percent
- Atlanta: down 6 percent
- St. Louis: down 4 percent
- Miami: down 3 percent
- San Francisco: down 1 percent
Among overall loan originations, the metros with the largest increase in purchase loans were:
- Raleigh, N.C.: up 55 percent
- New York: up 39 percent
- Roanoke, Va.: up 39 percent
- Honolulu: up 38 percent
- Little Rock, Ark.: up 34 percent
Source: ATTOM Data Solutions
About Empire Appraisal Group, Inc.
Establish in 2005, Empire Appraisal Group, Inc., is Broward County’s leading residential appraisal company as a result of their accurate and reliable appraisals, excellent customer service, and quick turn times. When working with an appraiser, integrity and professionalism are essential, and Empire Appraisal Group has a well-established reputation for providing the best appraisal experience. Daniel Lindeman, the Chief Appraiser, is considered one of the top property appraisers in Florida, with nearly 15 years of expertise and 7,000+ appraisals to his credit.
We ‘specialize’ in helping people who need appraisals for estate purposes, divorce, bankruptcy, FSBO’s and more.
We also work closely with realtors to help establish listing prices, these pre-listing appraisals ensures sellers get top dollar for their home.
In addition, to homes of all shapes and sizes, we also appraise condos, multifamily homes, boat docks, land, as well as specialty properties. No job is too big or too small, from manufactured homes to mansions.
Call Empire Appraisal Group directly with any questions concerning your real estate values at 561-441-9298. Also, check out our ‘Reviews’ page and see what others are saying about Daniel Lindeman and Empire Appraisal Group, Inc.
We provide residential appraisal services to all cities in Broward County: Parkland, Coral Springs, Coconut Creek, Dania Beach, Cooper City, Davie, Deerfield Beach, Fort Lauderdale, Sunrise, Hallandale Beach, Hillsboro Beach, Hollywood, Lauderdale by the Sea, Lauderdale Lakes, Lauderhill, Lighthouse Point, Margate, Miramar, North Lauderdale, Oakland Park, Pembroke Pines, Plantation, Pompano Beach, Sea Ranch Lakes, Tamarac, Weston, Wilton Manors.