97419, Cheshire, OR

Home equity is the difference between the market value of a home and the amount of money that a homeowner owes on their mortgage. Home prices are the price at which homes are sold in an area. In Cheshire, OR, home equity and home prices have increased significantly over the past few years. According to Zillow, as of September 2017, the median home value in Cheshire was $269,500. This is up from $242,500 in September 2016 and $209,900 in September 2015.

The reason for this increase is likely due to several factors. First, Cheshire has seen an influx of new residents due to its close proximity to Portland and Seattle. Second, Cheshire has seen strong job growth over the past few years which has led to increased demand for housing. Finally, interest rates have remained low which has helped homeowners get more bang for their buck when it comes to buying a home.

While there are many benefits to having high home equity and home prices in Cheshire, there are also some risks associated with these trends. For example, if interest rates rise or if the economy takes a downturn then homeowners could find themselves struggling to pay off their mortgages. Additionally, if there is a housing market crash then homes may become less affordable for potential buyers and could lose value quickly.

Overall though, it seems that both home equity and home prices in Cheshire are continuing to rise which suggests that this area is likely headed towards continued prosperity over the next few years