Protecting your home value inside and out

New Jersey homeowners, buyers or sellers have a new option for protecting their property value from the unstable housing market: Home Price Protect. Offered by Remax Connection Realtors and backed by EquityLockSolutions, the product provides a payoff to customers at the time of sale to compensate for any losses in home value.

The terms of a Home Price Protection contract are based on two factors, NorthJersey.com reported: the value of the home being protected, and the current value of the region's House Price Index according to the Federal Housing Finance Agency. The national average cost of the contract is 1.7 percent of the home value, and the 15-year contract cannot be cashed during the first two years of the term.

In an interview with the news source, CEO of Remax Connection Christopher Brown said the product should make a significant impact on nervous buyers and sellers in the housing market.

"There are many qualified home buyers not purchasing homes today because they are afraid of losing the equity they put down to purchase the home," Brown said.

Homeowners are also looking to protect their home's value through home improvement efforts. But Daily Finance reported these home improvements are no longer luxurious upgrades such as marble staircases and granite countertops. Rather, homeowners are sticking to basic improvements to maintain their homes while they wait out the weak market.

Home Depot experienced a 4.2 percent increase in sales for the second quarter and a 4.3 percent growth in same-store sales, reported the news source. 

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