November 17, 2024 8:38 am
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Arizona homes still way underwater

underwaterBy Mike Sunnucks | Phoenix Business Journal

Eighteen percent of Arizona homes are seriously underwater in value giving the state the ninth worst rate in the U.S., according to new numbers from RealtyTrac. That’s an improvement from the depths of the recession but still worse than 41 U.S. states.

The real estate research firm ‘s third quarter numbers show Nevada has the worst underwater rate with 31 percent home valued far less than outstanding mortgages. Florida is next with 28 percent of homes underwater followed by Illinois (26 percent) and Michigan (25 percent), according to RealtyTrac.

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© 2024 Rose Law Group Reporter

Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.