Good News For Home Owners....

By
Real Estate Broker/Owner with Realty Empire Incorporated
https://activerain.com/droplet/HJ5

 

 

I came across this article and wanted to share with all Home Owners..

 

More Home Owners Lifted From Underwater

As values rise, more home owners are finding equity in their houses again, surfacing after being underwater on their mortgage for the past few years, according to the latest data from CoreLogic.

In the second quarter, 10.8 million, or 22.3 percent, of home owners owed more on their mortgage than their house is currently worth, which is down from 11.4 million — or 23.7 percent — in the first quarter, CoreLogic reported Wednesday.

Often, the fear among the industry with underwater home owners is that they will be much more likely to stop making their mortgage payments and walk away from their properties. However, the majority of underwater home owners — 84.9 percent — are up to date on their mortgage payments despite the decrease in the value of their homes, according to CoreLogic.

“The level of negative equity continues to improve with more than 1.3 million households regaining a positive equity position since the beginning of the year,” says Mark Fleming, chief economist for CoreLogic. “Surging home prices this spring and summer, lower levels of inventory, and declining REO-sale shares are all contributing to the nascent housing recovery and declining negative equity.”

The highest number of underwater home owners are in Nevada (59 percent), Florida (43 percent), and Arizona (40 percent).

Source: CoreLogic and Realtor Mag

Posted by

 

Stephanie Leon

Real Estate Broker
Realty Empire

6625 Miami Lakes Dr.
Miami Lakes, FL 33014

Contact me at:
786-664-7710
SLeon@RealtyEmpire.net

 

 

                        

  

 

All Rights Reserved. Copyright 2010-2018 Stephanie Leon Realty Empire 

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Real Estate Market Trends
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Florida Miami-Dade County Miami Lakes
Tags:
home prices
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Rainmaker
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Gary Frimann, CRS, GRI
Eagle Ridge Realty / Signature Homes & Estates - Gilroy, CA
REALTOR and Broker

That is good news.  The less homes that are underwater, the less chance that a homeowner will just walk away.

Sep 14, 2012 12:18 AM #1
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333,502
Frank Castaldini
Compass - San Francisco, CA
Realtor - Homes for Sale in San Francisco

Thanks.  Yes this is good news for homeowners and it's great news for the economy.  Home owners who can sell stimulate economic activity.

Sep 14, 2012 12:20 AM #2
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Paula Stills
RE/MAX Real Estate Results - Bentonville, AR
Full time Real Estate, Ready when you are!

Oh wonderful. Thank you for sharing!

 

Sep 14, 2012 12:29 AM #3
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Stephanie Leon | Miami Lakes Realtor®

Turning For Sale Into SOLD!
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