Tuesday, January 27, 2015

RealtyTrac Reports 7.1 Million U.S. Residential Properties Still Seriously Underwater


Frank Duran
IRVINE, CA  — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data,  released its U.S. Home Equity & Underwater Report for the fourth quarter of 2014, which shows that at the end of the year there were 7,052,570 U.S. residential properties seriously underwater — where the combined loan amount secured by the property is at least 25 percent higher than the property’s estimated market value — representing 13 percent of all properties with a mortgage.

“Over the last year and a half I have had more people come to me thinking they need a short sale only to be shocked by the current market value and the positive equity in their home,” said Frank Duran, broker at RE/MAX Alliance, covering the Westminster, Colo., market in the Denver metro area, where 81 percent of distressed homeowners had positive equity at the end of 2014 — the highest percentage of any market nationwide — compared to 9 percent of distressed homeowners seriously underwater.  

“We have certainly seen an upward turn in the market.”


 For a complete copy of the company’s news release, please contact:

Jennifer von Pohlmann
949.502.8300, ext. 139

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