\n<\/div><\/div>\n<\/div>\n<\/div>\n

By Kerry Smith<\/div><\/div>\n

Underwater homeowners \u2013 they owe more on their mortgage than their home\u2019s value \u2013 are more likely to end up in foreclosure. But today, 1 in 3 owners with a mortgage (32%) have\u00a0at least 50% equity, and only 1 in 21 (4.7%) owes 25% or more than their home\u2019s current market value.<\/span><\/span><\/p>\n<\/div>\n

IRVINE, Calif. \u2013 Thanks in part to rising property values, today\u2019s homeowners largely have a lot more equity than they did during the housing meltdown in the Great Recession. Of those with a mortgage, one in three (31.9%) is equity rich, according to ATTOM Data Solutions\u2019 first-quarter 2021 U.S. Home Equity & Underwater Report, meaning that the remaining amount on the owner\u2019s mortgage is 50% or less than their home\u2019s estimated market value.<\/span><\/span><\/p>\n

The report only analyzes homes in which the homeowner has a mortgage. Those without a mortgage generally have 100% equity.<\/span><\/span><\/p>\n

On the flipside, a smaller amount of homeowners with a mortgage are underwater now compared to the Great Recession. Nationally, just 2.6 million \u2013 one in 21 or 4.7% of all mortgage properties \u2013 were considered seriously underwater in the first quarter of 2021, meaning the amount they still owe on the home is at least 25% more than its estimated market value.<\/span><\/span><\/p>\n

That 4.7% of mortgaged homes seriously underwater is down from 5.4% in the prior quarter, 6% in the third quarter of 2020 and 6.6% a year ago.<\/span><\/span><\/p>\n

On the other hand, the percentage of equity rich homes, 31.9%, is up from previous quarters \u2013 30.2% in the fourth quarter of 2020, 28.3% in the third quarter and 26.5% in the first quarter of 2020.<\/span><\/span><\/p>\n

Overall, Florida was about average when ATTOM compared states. Among the 50 states, 41 had an increase in equity-rich homes compared to the previous quarter, and 49 saw a decrease in the percentage seriously underwater.<\/span><\/span><\/p>\n

\u201cIt continues to be a great time to be a homeowner most everywhere in the country, says Todd Teta, chief product officer with ATTOM Data Solutions. \u201cThe ongoing price spikes we\u2019re seeing help to cut down the number of seriously underwater properties and boost the level of equity-rich properties.\u201d<\/span><\/span><\/p>\n

Teta says current trends may shift, however, once the foreclosure moratorium is lifted, something he says ATTOM is watching. \u201cFor now, though, the equity picture remains one of many signs that the long U.S. housing market boom keeps charging ahead.\u201d<\/span><\/span><\/p>\n

\u00a0<\/span><\/span><\/p>\n

\u00a9 2021 Florida Realtors\u00ae<\/span><\/span><\/p>\n<\/div><\/div>\n

Go to Source<\/a>
\nAuthor: kerrys<\/p>\n","protected":false},"excerpt":{"rendered":"

By Kerry Smith Underwater homeowners \u2013 they owe more on their mortgage than their home\u2019s value \u2013 are more likely to end up in foreclosure. But today, 1 in 3 owners with a mortgage (32%) have\u00a0at least 50% equity, and only 1 in 21 (4.7%) owes 25% or more than their home\u2019s current market value. IRVINE, Calif. \u2013 Thanks in part to rising property values, today\u2019s homeowners largely have a lot more equity than they did during the housing meltdown in the Great Recession. Of those with a mortgage, one in three (31.9%) is equity rich, according to ATTOM Data Solutions\u2019 first-quarter 2021 U.S. Home Equity & Underwater Report, meaning that the remaining amount on the owner\u2019s mortgage is 50% or less than their home\u2019s estimated market value. The report only analyzes homes in which the homeowner has a mortgage. Those without a mortgage generally have 100% equity. On the flipside, a smaller amount of homeowners with a mortgage are underwater now compared to the Great Recession. Nationally, just 2.6 million \u2013 one in 21 or 4.7% of all mortgage properties \u2013 were considered seriously underwater in the first quarter of 2021, meaning the amount they still owe on the home is at least 25% more than its estimated market value. That 4.7% of mortgaged homes seriously underwater is down from 5.4% in the prior quarter, 6% in the third quarter of 2020 and 6.6% a year ago. On the other hand, the percentage of equity rich homes, 31.9%, is up from previous quarters \u2013 30.2% in the fourth quarter of 2020, 28.3% in the third quarter and 26.5% in the first quarter of 2020. Overall, Florida was about average when ATTOM compared states. Among the 50 states, 41 had an increase in equity-rich homes compared to the previous quarter, and 49 saw a decrease in the percentage seriously underwater. \u201cIt continues to be a great time to be a homeowner most everywhere in the country, says Todd Teta, chief product officer with ATTOM Data Solutions. \u201cThe ongoing price spikes we\u2019re seeing help to cut down the number of seriously underwater properties and boost the level of equity-rich properties.\u201d Teta says current trends may shift, however, once the foreclosure moratorium is lifted, something he says ATTOM is watching. \u201cFor now, though, the equity picture remains one of many signs that the long U.S. housing market boom keeps charging ahead.\u201d \u00a0 \u00a9 2021 Florida Realtors\u00ae Go to Source Author: kerrys<\/p>\n","protected":false},"author":4,"featured_media":5093,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts\/5092"}],"collection":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/comments?post=5092"}],"version-history":[{"count":0,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts\/5092\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/media\/5093"}],"wp:attachment":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/media?parent=5092"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/categories?post=5092"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/tags?post=5092"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}