Alexa Realty 411 on Friday March 14th 2014
Hosts Robert Gawel & Gene Panicia
Script for today's show
Robbie: We turned the clocks forward this week and we welcomed in spring 2014. Another real estate season has begun, so just what is the state of our market? Who’s underwater and who’s not?
All this and more…next on AlexaRealty411.
Robbie: Hello and welcome to Alexa Realty 411, I’m Robert Gawel…and you are not Petra Byers
Gene: and I’m Gene Paniccia, thanks for having me
Robbie: Great to see you, Gene want don’t you start us off
Gene: Core logic released new data this week that due to the rise in home prices 4 million homeowners have returned to positive equity
Robbie: Across the US today 42.7 million homeowners have equity in their homes while 6.5 million home owners are still considered to be underwater. Now this is much better than 2 years ago when we reported that 11 million US homeowners were underwater.
Gene: If you like percentages, that equates to 86.7% of US homeowners are above water and 13.3% are underwater.
Robbie: While things seen to be getting better in other parts of the country, lets take a closer look at Florida.
Gene: Florida is ranked second the country with 28.1% of it’s homeowners with a mortgage are underwater and another 3.6% are just barely above water.
Robbie: Of the 25 Largest Core Based Area’s based on population, it was the Orlando/ Kissimmee/ Sanford Area in Florida that had the highest percentage of properties with negative equity at 31.5%.
Tampa, St. Petersburg and Clearwater came in at number 2 with 30.4% of it’s home owners underwater.
Gene: The Phoenix, Mesa & Scottsdale Arizona came in third at 22.1%, Chicago, Naperville and Arlington Heights came in forth with 21.4% and Atlanta, Sandy Springs and Roswell Ga. topped out the top five areas with the highest amount of home owners with negative equity with 19.9
Robbie: What about states, Nevada had the highest percentage of properties with negative equity at 30.4%, Florida was 2nd at 28.1%, Arizona 3rd at 21.5%, Ohio 4th at 19% and Illinois comes in 5th with 18.7% of it’s home owners underwater. These 5 states account for 36.9% of the negative equity in the US today.
Gene: Well things on a national level things seem to be doing better but the Tampa bay area has a big hole to dig out of.
Robbie: Now we did report last week that according recent data released by the Pennski Truck rental that the Tampa, Sarasota area was the 2nd top city in the US today that people were moving to.
Gene: If you’re looking to buy, sell or just have real estate questions call us were here to help. To reach us all you have to do is pick up the phone and give us a call our numbers are right here below.
Robbie: If you’re watching this on Facebook hit the LIKE button and to stay in the know in the world of real estate subscribe to our blog at alexarealty411.com and until next time thanks for watching I’m Robert Gawel
Gene: and I’m Gene Paniccia
Robbie: Well see you next week…bye for now
Loading more stuff…
Hmm…it looks like things are taking a while to load. Try again?