If current depreciation trends continue closer to 50% of all owners with a mortgage will be underwater - Kansas City real estate

More evidence that should convince the nonbelievers that the United States is in a housing dip ….and that so-called distressed properties like short sales and foreclosures will dominate for years to come.

What does this mean to the Kansas City real estate market? More home value depreciation and an epic increase in demand for agent that know how to help underwater homeowners. That is right, short sale specialist will be in high demand for the next few years.

When a homeowner who bought a home in 1999 with 5% down and has paid their mortgage on time every month is underwater, look at all the homeowners who have bought since. If they didn't buy right and put minimum down, they to could be underwater.

Last year a few real estate economist predicted that 40% of all home owners with a mortgage would be underwater in 2011. If anything, that prediction was way too conservative.

Currently many major US cities are experiencing negative equity numbers greater than 40%:

* Chicago: 45.7%

* Atlanta: 55.7%

* Phoenix: 68.4%

* Las Vegas: 71%

If current depreciation trends continue closer to 50% of all owners with a mortgage will be underwater. For reference sake, that has never happened. As in never-ever happened…in the history of…well, modern civilization.

With the current market conditions, real estate investors are jumping out and buying homes. Why not? Real Estate is on sale.

RE/MAX sells more homes than any other real estate company.
For a reason...should we talk?

Blog post written by the Dowell Taggart Team of RE/MAX Premier Realty 

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