How Negative Equity Affects The Boise Real Estate Market
When I sit down to talk with a client who wants to list their home, one of my first questions is “how much do you owe?”
It’s a key question because roughly 25% of the Treasure Valley’s homeowners are “underwater”.
Negative equity is playing a significant role in our current, recovering market because many underwater sellers would like to sell, but cannot cover their negative equity if they sell.
But, prices are rising and some of those underwater sellers are now realizing they could sell and break even, or even pocket some cash, thanks to recent increases in home prices.
If you think you are underwater and would like to know where you stand, give me a call at 938-5533 or e-mail me.
I would be happy to run comps and give you an idea of your home’s current value and equity position.
July 10th, 2012 Posted in Inside Real Estate
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