Homeowners still under water. But no need to panic.
Real estate industry stats show that the number of home owners who owe more than their home is worth grew slightly last month. However, only one in ten of them were considered “seriously” under water. What does seriously mean?
In our opinion, owning only a few dollars more than your home is worth is serious. While homes were not meant to be rapid wealth builders, real estate has always been considered an “appreciating asset.” In the investing world, debt on an appreciating asset is good debt. Car debt, for example, is not good debt because cars only depreciate in value over time (well, most of them do.)
If you think you have a handle on your mortgage, we suggest that you remain vigilant in monitoring how your home value adjusts over the next few months to a year. However, if you feel like things are starting to wobble a bit, give Gavish Real Estate a call about our short sale services so together, we can help you achieve the peace-of-mind you deserve.