Tuesday, 07 September 2010
A little reality check for the Houston, TX real estate market...
According to a financial report provided by real estate data provider from CoreLogic, about 12% of Greater Houston homes in Houston, Sugar Land and Baytown are underwater. The report said 111,311 mortgaged properties in Houston-Sugar Land-Baytown have a mortgage value higher than the home's actual value - yikes! The report claims this misfortune to area foreclosures.
CoreLogic said another 5.9% of mortgage holders in the same submarket are nearing a point where they will also be in the underwater category. Nationwide, Nevada had the highest percentage of negative equity with a whopping 68% of its mortgaged properties underwater. Thinking about putting your home on the market, but have a ton of questions? Contact us, our team of top producing agents will give you the non-sugar coated version of the truth!
