Sarasotans Bob Above Equity Waterline

Posted by Louis Wery on Friday, September 6th, 2013 at 12:31pm.

 

Thirteen percent of Sarasota homeowners with mortgages — that’s 17,318 homes — are bobbing within 10 percent of the equity waterline. Formerly drowning in mortgage debt, they either have now or soon will have enough equity to sell their home in the next year or so.

RealtyTrac’s report for September 2013 also categorized 21 percent of Sarasota homeowners with mortgages as having a loan-to-value (LTV) of 50 percent or lower.

The improved position means that the inventory of homes on the market should improve in coming months.

Of the 2,075,484 Floridians with mortgages, 40 percent were drowning with an LTV of 125 percent or more. Florida ranked third in underwater mortgages behind Nevada and Illinois.

There are still 45,835 or 33 percent of Sarasota homes at 125 percent LTV or higher.

Infographic of Trulia & RealtyTrac's Harris Survey findings on when most Americans think the housing market will recover. The survey was conducted 11/2-11/4, 2010 among 2,034 U.S. adults aged 18 years and older (licensed through Creative Commons)

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