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| 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.”
Jennifer von Pohlmann
949.502.8300, ext. 139
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