By Catherine Reagor | The Arizona Republic
In metro Phoenix’s housing market, there are the haves and have-nots, those homeowners who have equity and those who don’t.
Anyone who bought a house or refinanced in the Valley between February 2005 and July 2008 still most likely owes more than their house is worth, according to the Arizona Regional Multiple Listing Service.
Homeowners who purchased before May 2004 and didn’t refinance between early 2005 and mid-2009 should have equity in their house, said Tom Ruff, real-estate analyst with the Information Market, owned by ARMLS.
For the home equity haves and have-nots, it’s all about the Valley’s housing boom and bust.
