Less homeowners are currently drowning in their mortgages!

By
Real Estate Agent with RE/MAX Results
https://activerain.com/droplet/4Jcc

Well, it is a sad statement....but very much true. The bad is getting better, but it is still not that good, at least from the "historical perspective". There has been a steady decrease in the percentage of homeowners that are underwater for the last 13 quarters in a row. Q2-2015 is no exception, 14.4% of homeowners nationwide owe more than their home is worth.  The average for condo owners is not as good with 1 in 5 (20%) are still upside down.   Here is four years of negative equity "healing" from Zillow 

 

 

With all good news, comes some bad.... almost one third (31.4 percent) of homeowners with a mortgage are in a “effective negative equity" position, or as many could call "slightly underwater" which means they could not sell their home, pay closing costs and afford a down payment on an equivalent or more expensive home.

For a FAST, NO OBLIGATION estimate of your homes value

 

 

logo    Stieg Strand Broker/Realtor, RE/MAX Results
Tel: 952.942.4750 | Mobile: 612.490.2121
stieg@results.net | www.mnhomereports.com
   
 

 

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Rainmaker
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John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Steig - This is very good report on home owners with negative equity.

Sep 14, 2015 11:20 AM #1
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Rainmaker
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Stieg Strand

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