San Diego Negative Home Equity
2010 February 21
San Diego negative home equity
Last week, online real estate valuation researcher Zillow.com released its latest quarterly number on negative equity in major markets. The percentage of homeowners with negative equity appears to be on the decline.
For San Diego County, Zillow found the fourth quarter negative equity rate was 24.7 percent, which was down from the second quarter, when it was 31.6 percent, but higher than the third quarter, when it was 21.6 percent. In metropolitan Las Vegas, for example, 81.3 percent of all homeowners – 256,000 households – were underwater on their mortgages in the fourth quarter. In Phoenix, 61.5 percent of borrowers were in negative territory.
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At least the numbers are getting better in some way or form right?
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