Why does my property have negative equity? Here are a few common reasons:
Person bought at the height of the market and the market has now declined or paid more than the property was worth.
The area has become less desirable for any number of reasons, so property values have declined.
Person purchased the home with little or no money down and wants to sell within a few years of purchase… and the property value has not increased during that time. Therefore, costs associated with selling the property may create a balance due at closing,
Person refinanced the home (with a high appraisal value) and now has little or no equity.
Person bought in a brand new subdivision or recently developed area that has not been fully developed or has not appreciated (or has depreciated) in value
The market is soft because there is too much builder (new home) inventory or too many existing homes on the market (buyer’s market)
What is Negative Equity?
Also known as being "upside down" negative equity is the difference between the value of an asset and the outstanding portion of the loan taken out to pay for the asset, when the latter exceeds the former. For example, if your car is worth $10,000 and you owe $15,000 on it, you would have a negative equity of $5,000. Negative equity can result from a decline in the value of an asset after it is purchased.
Janet O'Brian is a Certified Short Sales Specialist in California is ready to help you with your Situation… Pre-foreclosures
Monthend Numbers
| Dec '09 | Nov '09 | Oct '09 | Sep '09 | Aug '09 | |
| Listed | 598 | 756 | 659 | 701 | 691 |
| Pending | 507 | 667 | 593 | 725 | 564 |
| Sold | 517 | 565 | 549 | 564 | 612 |
The
new look of the Dailys which are a set of number
tracking the
current trand in the Ral Estate Market in the Antelope Vally.
Dailys*
| New Listings | 34 |
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| Back on Market | 6 |
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| Price Increases | 1 |
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| Price Reductions | 11 |
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| Pendings | 43 |
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| Solds | 19 |
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| Expireds | 2 |
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| Inactives | 6 |
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Month to Date and Projected open Escrows*
| Total Active | 1,245 | |
| Total Active Core Area | 855 Under 700 Nov 6 '09 | |
| Total Active REO's | 247 - 6 added | |
| Total Short Paids | 247 - 5 added | Pre-foreclosures |
| Pending MTD/Projected | 426 / 508 | |
| Sold MTD | 270 | Projected - 322 - With 63.4% closing Rate |
| Sold Last Month | 517 | Solds are down 37.7% Project from last month |
Absorption Rate*
Current Month 1.8 Months
At Last Months Rate 2.4 Months
Historical High 5300+ Mid 2007
Richard & Janet O'Brian Real Estate Agents in California work with buyers of all types, from first time, to investors, please let us work for you! Call us today. If you are looking for an aggressive Team to find and fight for the best deal call us or visit out website http://www.homesbyjr.com/. Or Keller Williams Realty AV
(Quick Mapping Links for Core Areas)
Palmdale
Lancaster
Ana
Verde
Ritter
Ranch
Quartz
Hill
Leona
Valley
Lake
Hughes
Lake
Elizabeth
*The Core Nunbers do not include outlying segments of the Antelope Valley or out-of-area properties. Lancaster, Palmdale, Quartz Hills, Leona Valley, Antelope Acres, Lake Elizabeth, Lake Hughes, Littlerock, Lake Los Angeles, Green Valley and Juniper Hills are included in the core grouping. All figures are Single Family Residential only.
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