How Does Your State Fare? One in four properties nationwide are “equity rich,' according to a new 
report released by real estate data firm ATTOM Data Solutions. To be considered as such, homeowners with financing must currently hold a mortgage that is 50 percent or less of the property’s estimated market value.
As home prices keep setting records, the number of homeowners with equity in their homes is growing. More than 13.6 million properties were considered “equity rich” in the second quarter, according to the report.
On the other hand, the ATTOM report also showed that more than 5.5 million homes—or 10 percent of all homes with a mortgage in the U.S.—are still considered “seriously underwater,” where the combined estimated balance on the loan is at least 25 percent higher than the property’s estimated market value.
“The share of seriously underwater properties has ped well below 10 percent in bellwether housing markets such as California, Washington, Texas, Colorado, and New York, but the underwater rate remains stubbornly high in markets where price appreciation has not been as strong during the housing recovery of the last six years,” says Daren Blomquist, senior vice president with ATTOM Data Solutions.
“Nationwide, the number of equity rich homeowners is more than twice the number of seriously underwater homeowners, but the gap between home equity haves and have-nots persists because home price appreciation is certainly not uniform across local markets or even within local markets.”
If you’re thinking about putting your house on the market, you’re probably wondering what you should do before you list it.
Getting a home ready to sell doesn’t have to be a huge undertaking, but it’s one where details really matter. When you’re working with real estate professional Carriene Porter of Precision Realty & Associates, you’re guaranteed to get the expertise and advice you need to sell your home.
#RealEstateForSale #Homeownership #UtahRealEstate
report released by real estate data firm ATTOM Data Solutions. To be considered as such, homeowners with financing must currently hold a mortgage that is 50 percent or less of the property’s estimated market value.As home prices keep setting records, the number of homeowners with equity in their homes is growing. More than 13.6 million properties were considered “equity rich” in the second quarter, according to the report.
“The share of seriously underwater properties has ped well below 10 percent in bellwether housing markets such as California, Washington, Texas, Colorado, and New York, but the underwater rate remains stubbornly high in markets where price appreciation has not been as strong during the housing recovery of the last six years,” says Daren Blomquist, senior vice president with ATTOM Data Solutions.
“Nationwide, the number of equity rich homeowners is more than twice the number of seriously underwater homeowners, but the gap between home equity haves and have-nots persists because home price appreciation is certainly not uniform across local markets or even within local markets.”
If you’re thinking about putting your house on the market, you’re probably wondering what you should do before you list it.
Getting a home ready to sell doesn’t have to be a huge undertaking, but it’s one where details really matter. When you’re working with real estate professional Carriene Porter of Precision Realty & Associates, you’re guaranteed to get the expertise and advice you need to sell your home.
#RealEstateForSale #Homeownership #UtahRealEstate
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