1 in 5 Homes Underwater

Posted on February 10, 2010
Filed Under Real Estate News, Vancouver Homes | 4 Comments

20% of homes underwater

Real estate website Zillow.com says one of every five U.S. home owners owed more on their mortgage than their home was worth in the fourth quarter.  The percentage of American single-family homes with mortgages in negative equity rose to 21.4% in the fourth quarter from 21% in the third quarter, according to the Zillow Real Estate Market Reports.  U.S. home values declined again in the fourth quarter, as the Zillow Home Value Index fell 5% year-over-year and down 0.5% quarter-over-quarter, to $186,200. It was the 12th consecutive quarter of year-over-year declines, the reports showed.  “The prevalence of markets in or near a double-dip situation shows that we are not yet at the bottom, in terms of home values,” Stan Humphries, Zillow chief economist, said in an interview.

Comments

4 Responses to “1 in 5 Homes Underwater”

  1. Commercial Real Estate Investing on September 22nd, 2011 4:57 pm

    Being armed with this information, the investor can begin to analyze each property that he is
    offered and make a speedy, but qualified decision on them. His rejection of a property does not
    make it a bad property per se, but only that it does not meet his specific criteria and may meet
    those of another investor.

    By following these simple steps, you can ensure that you are the person with the knowledge,
    not the agent of the person selling the property, and in the best position to drive the sale in

    your direction. By all means look for the win-win situation as the seller may have other similar
    property that you might wish to buy in the future, but none of this should be to the detriment of
    your deal.

  2. Matt H on October 3rd, 2011 4:10 pm

    These are sad statistics and it does effect our business here in the northeast. We are hard money lenders and a lot of our clients were unable to refinance out of their loans.

  3. real estate training on October 4th, 2011 2:42 pm

    Lot’s of people want to modify their home loan because they don’t want to lose their house. Little do they know that selling their home is actually, the majority of the time, what they’ll end up doing because they can’t get a loan mod. So, that’s really where your content will lead them. If you’re targeting short sale listings, make sure to get lots of real estate training. There is much you can share with homeowners.

  4. real estate coach on January 6th, 2012 5:01 pm

    Wise Agent has an interface that is easier to use and a little faster to accomplish tasks. It does most of the same things as Top Producer. However, it does not have the ability to mail printed material to a contact automatically on a scheduled delivery. This is one area where Top Producer is very useful. You can set up a campaign once and have it automatically send emails to your contacts, mail printed material, and remind you to call them.

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