A couple of days ago, this question came in from the Ask the Broker page: Question: I love my home .. bought in 2000 for 289,000 re-fi in 2006 at 376000.00 todays worth 305,000 according to zillow. I'm torn, should I short sell and cut my losses or should I keep fast and steady. I'm trying to figure out my home appreciation in 10 years. I reside in peoria zip 85383 What we have here is basically an unanswerable question. Please allow me to explain why”¦. I look at this as a … [Read more...]
Half of Arizona Homeowners are Underwater. 23% Nationwide”¦
Not surprising, but sobering numbers”¦ The Wall Street Journal reports that the number of people underwater on their mortgages (those who owe more than the property is currently worth), has increased to 23% nationally. Arizona is second only to Nevada with 47.9% of all home owners with a mortgage having negative equity in the third quarter of 2009. Another 4.5% are classified as “near negative” ”“ within 5% of being in a negative equity position. (Nevada is at 65% / 3.7%) Yep, drive … [Read more...]
The Phoenix Real Estate Guy was started by Jay Thompson, and I have a little blogging problem... he liked to say...