More good news for homeowners this month!
In the recent U.S. Home Equity and Underwater Report for September 2013, RealtyTrac has shown that 8.3 million homeowners have a loan to value (LTV) ration from 90 to 110 percent. These homeowners represent 18 percent of all U.S. homeowners with a mortgage as of the start of this month.
In South Florida, the recent housing market growth has caused a substantial decline for the number of underwater mortgages. In Miami-Dade County, underwater mortgages are down from last year’s 45 percent to 41 percent. In Broward County, last year’s 44 percent is down to 38 percent. Home prices are also rising at a rate of 1.33 percent monthly.
At the current speed the market is growing, it’s predicted that as much as 8 million homeowners nationwide will be able to gain enough equity in the future so they would be able to sell their homes without having to resort to a short sale to bail them out.
Gaining equity on a home to give you leverage to sell takes time and patience but once you have enough and you to choose to sell your home, trust in the expertise of a real estate team that would be able to give you the services you deserve. Trust in the expertise of the Great Florida Homes Team!