"under water" properties at their lowest level in a long time!

Just read on RisMedia:

One million borrowers regained equity in 2015, bringing the total number of mortgaged residential properties with equity at the end of the 4^th quarter of 2015 to approximately 46.3 million, or 91.5 % of all mortgaged properties, according to a new CoreLogic® analysis.  Nationwide, borrower equity increased year-over-year by $682 billion in Q4 2015. 

The total number of mortgaged residential properties with negative equity (“under water”) decreased 19.1 % year over year from what it was at the end of last year.

Interestingly, Miami-Miami Beach-Kendall, Florida, had the highest percentage of mortgaged properties in negative equity (22% of the total).

San Francisco-Redwood City-South San Francisco, CA, had the highest percentage of mortgaged properties in a positive equity position, at 99.3%.    Houston, then Denver followed SF in that category.

To read the full article on RisMedia.

Thanks for reading!

Francis

The 2016 French Fair is coming to Palo Alto:

March 19th - Lucie Stern community Center

1305 Middlefield Rd - Palo Alto.

http://www.frenchfair.org/
See you there, for French food, fashion, dance, live music, art, company!

Home prices nationwide rise.

Home prices nationwide rise for eighth consecutive month.

CoreLogic’s October CoreLogic HPI report shows home prices nationwide, including distressed sales, increased on a year-over-year basis by 6.3 percent in October 2012 compared with October 2011, representing the biggest increase since June 2006 and the eighth consecutive increase in home prices nationally on a year-over-year basis.

Highlights as of October 2012:

• Including distressed sales, the five states with the highest home price appreciation were: Arizona, 21.3 percent; Hawaii, 13.2 percent; Idaho, 12.4 percent; Nevada, 12.4 percent; and North Dakota, 10.4 percent.
• Including distressed sales, the five states with the greatest home price depreciation were: Illinois, -2.7 percent; Delaware, -2.7 percent; Rhode Island, -0.6 percent; New Jersey, 0.6 percent; and Alabama, -0.3 percent.
• The five states with the largest peak-to-current declines, including distressed transactions, were Nevada, -53.5 percent; Florida, -44.5 percent; Arizona, -40.2 percent; California, -36.6 percent; and Michigan, -35.3 percent.

Corelogic Home price index.   (The CoreLogic HPI incorporates more than 30 years’ worth of repeat sales transactions, representing more than 65 million observations...)

Thank you for reading,

Francis

Silicon Valley real estate

Current Mortgage rates

Non-profit organization worth noting: Random acts of flowers.