More homeowners are unlocking equity, which has pushed the number of underwater properties nationwide to about half of the peak reached in the second quarter of 2012, RealtyTrac reported in its Year-End 2015 U.S. Home Equity & Underwater Report.
By the end of 2015, about 6.4 million homes – or 11.5 percent of all properties with a mortgage — were considered “seriously underwater” – in which the loan amount is at least 25 percent higher than the property’s estimated market value. That marks half the 12.8 million –or 28.6 percent of all properties – of seriously underwater properties in the peak of the second quarter of 2012, RealtyTrac reports.
The following markets had the highest share of “equity rich” properties as of the end of 2015:
• San Jose, Calif.: 53.7 percent
• San Francisco: 47.6 percent
• Honolulu, Hawaii: 36.7 percent
• Los Angeles: 35.8 percent
• Pittsburgh, Pa.: 35 percent
From C.A.R. Newsline ~ CALIFORNIA ASSOCIATION OF REALTORS®
Just Sold! Need a Handyman or a Building Contractor! Must be sold in “as is” condition! Lots of potential for a profit. Almost 1/2 acre corner lot on Hwy 26 in Linden School District. Fixer 3 bedroom 1 bath home with old workshop / guest house. Out-of-state owner wants an offer. All cash only!
When you decide to sell your home in the Stockton, Lodi and San Joaquin County areas, please contact me. And let’s get started!
Just Sold at $105,000. Fantastic fixer project for a Builder! Vacant 3 bedroom 2 bath house with approximately 1475 sqft of living area on 110×150 lot in east Stockton. This property is adjacent to newer contemporary homes and convenient to Hwy 99 and Farmington Road. Sold in less than 90 days!
Contact Dave Thurman, REALTOR for more information about selling local properties in Stockton, Lodi and San Joaquin County.
Take a minute to update yourself on what’s happening in your local housing world
As a real estate professional, I inevitably get asked about current market conditions, whether now is a good time to buy or sell, or what are home prices like in my area. These questions are best answered with statistics because the real estate market is constantly in a state of flux. With that said, I’ve prepared a monthly newsletter that provides data to answer these and other similar questions.
My Housing Trends eNewsletter is updated monthly and I’ll let you know when the latest version is ready so you can see what’s happening in your local market.
Posted by Dave Thurman under General
New year, new you, right? Sure! If you’re like most people, the new year is chock-full of health- and wellness-related resolutions–but why stop there? Your home could use some improvements in the new year too. If a major home improvement is on your list of resolutions, it pays to have your plans established before you get started. So, to avoid your renovations becoming irritations, here are some budgeting and organizational guidelines to help you get where you’re going: [Learn More]
From RISMedia’s Housecall