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The “Underwater” Housing Story Improves!

So what is the current value of your home?  Over the last few years, we’ve heard endless stories about the number of homeowners across the country that are underwater, or owe more on their mortgages than their homes are worth.  Through out San Luis Obispo county we experienced this first hand by the quantity of Short Sales at the low and high end of the market, and in every city.  The issue is significant when we talk about housing recovery because underwater owners often can’t sell – they don’t have the hardship for debt forgiveness. With home values underwater, we’re seeing problems with lack of available inventory to new buyers. The good news is that we’re seeing home values stabilize and slight increases in certain cities.   A good place to watch the trends is by visiting the slocountyhomes.com dashboards, by city, by home style.

Written by Collette Kutil - Go to Collette's Website/Profile
Collette Kutil, The Keith Byrd Team, South County Realtor in San Luis Obispo County, including Pismo Beach, Arroyo Grande, Grover Beach, Oceano, Nipomo, and Avila Beach, 805-801-8114