Feb 01

Equity Gains for 2015

Equity Gains for 2015

Equity Gains for 2015

Equity Gains for 2015

More home owners 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 reports 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.

“Over the past three and a half years, the number of seriously underwater properties has been cut in half, but we continue to deal with a long tail of seriously underwater properties, and it will likely be another five years at least before most of those remaining underwater properties move into positive equity territory,” says Daren Blomquist, vice president at RealtyTrac. “At the other end of the spectrum, the growing number of equity rich properties reflects a moribund move-up market and restrained leveraging of home equity by U.S. home owners.”

By the end of 2015, about 12.6 million properties – or 22.5 percent of all properties with a mortgage — were considered “equity rich,” having at least 50 percent equity.

What’s more, also by the end of 2015, 49.7 percent of all homes in foreclosure had at least some equity – a record high since RealtyTrac began tracking in the third quarter of 2013.

Tracking the Highs

The following markets – with a population of at least 500,000 — had the highest share of seriously underwater properties at the end of 2015:

  • Las Vegas, Nev.: 27.7%
  • Lakeland, Fla.: 24.4%
  • Cleveland: 24.2%
  • Akron, Ohio: 22.5%
  • Orlando, Fla.: 22.2%

On the other hand, the following markets had the highest share of “equity rich” properties as of the end of 2015:

  • San Jose, Calif.: 53.7%
  • San Francisco: 47.6%
  • Honolulu, Hawaii: 36.7%
  • Los Angeles: 35.8%
  • Pittsburgh, Pa.: 35%

Source: RealtyTrac

admin

For all of your Real Estate needs, place yourself in the competent hands of a career Realtor who is a Philadelphia native and Delaware County resident. Skilled, smart and enthusiastic about his work and his life, Anthony DiDonato has the appealing combination of business sense and people skills gives him an edge in an industry that demands both.

Educated at Drexel University with a dual major in accounting and finance and minors in management and psychology Anthony DiDonato offers over 25 years of experience in the real estate industry. He has been a real estate investor since 1985 and a member of H.A.P.C.O. (Landlord Association). He became a licensed Realtor in 1992 and a member of the Local, Pennsylvania and National Associations of Realtors. Anthony DiDonato is also a member of the Computerized Multiple Listings, (MLS) and Internet Marketing Programs. In 1997 Anthony DiDonato became Century 21 All-Elite, Inc. Corporate Secretary.

Anthony DiDonato believes in taking his profession to the highest level of quality service. He is known for finding that “perfect” property in Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania for his buyers and helping his sellers prepare their properties so they sell quickly and efficiently.

When it comes time to negotiate the terms of a contract, Anthony DiDonato has the knowledge, experience, and professionalism applied to meeting – or exceeding – his clients’ expectations. His service to his clients is second to none. His honesty and integrity have been his claim to fame.

For Superior Real Estate Representation in the Delaware Valley, Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania… call Anthony DiDonato.