The folks in the northern states (and even down into Kentucky) who have sugar maple trees on their properties have the old-fashioned option of supplementing their incomes by tapping into the sap. Boiling it down takes a lot of energy, but the maple syrup is highly saleable. Many St. Cloud homeowners don’t need to turn to agribusiness to have an alternate option for raising cash in a pinch: tapping into their St. Cloud home’s equity. According to last Thursday’s USA Today, its financial importance also dwarfs the maple syrup idea—currently, by trillions of dollars.

The total equity now held by American homeowners is awesome. “Homeowners are sitting on an estimated $20 trillion worth of home equity,” according to the credit authorities at TransUnion. In the first two quarters of 2022, homeowners tapped into the availability of ready cash to the tune of nearly $131,000,000,000 (yes, that’s billions). Such was the total credit value of the 807,000 new Home Equity Lines of Credit (HELOCs) granted by lenders during just those two quarters—a 30% increase over the same period in 2021.

The dramatic expansion of St. Cloud homes’ equity was fueled by the “red-hot market” that swept the nation in what is now thought of as “the pandemic market.” And homeowners aren’t alone in welcoming the HELOC phenomenon. Mortgage lenders, faced with interest rate increases that have stifled demand for original home loans, are grateful to have HELOC demand to fall back on. USA Today may have had those firms in mind with its headline depiction of equity loans as the “Right Tool at the Right Time.”

When home sales prices confirm hefty valuations, they also underscore another benefit that St. Cloud property owners are happy to confirm: the equity dimension that owning your home provides. Call me for the latest sales results for St. Cloud and surrounding areas. I’ll be happy to focus on properties that match the criteria that interest you.    

Providing a superior level of informed, professional real estate services to buyers and sellers throughout Central Minnesota. We have agents specializing in residential, commercial, multifamily, new construction, existing, investment properties, foreclosures/REO, and short sales with offices located in:

Multiple Office Locations To Serve YOU!

Saint Cloud 320-259-4554

Princeton 320-983-3555

Sartell 320-259-4554

Little Falls 320-259-4554

Minneapolis 763-565-2000

Hutchinson 320-455-9127

Litchfield 320-298-1140

Premier Real Estate specializes in MANY areas around Central MN including Saint Cloud, Waite Park, Rice, Royalton, Sartell, Royalton, Little Falls, Cold Spring, Saint Joseph, Elk River, Monticello, Ramsey, Saint Michael, Andover, Ham Lake, Anoka, Champlin, Buffalo, Glencoe, Brownton, Silver Lake, Kandiyohi, Dassel, Minneapolis, Maple Grove, Saint Louis Park, Saint Paul, Robbinsdale, Crystal, New Hope, Brooklyn Center, Brainerd, Nisswa, Aitkin, Albany, Coon Rapids, Sauk Rapids and more!