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One in Six owe more than what their home is worth

Today's headline on MSN.COM Nearly 1 in 6 homeowners 'under water'

This really sounds like an alarming statistic. One in Six homeowners are upside down. 2 Trillion dollars have been lost in the stock market fiasco.

THE MEDIA LOVES TO PRINT THE HORRIBLE NEWS, they continue to spew negative news and I for one am quite sick of it. I know things are not good right now, but not everything is horrible.

Lets look at this, one in six homeowners is upside down. That sounds bad.... If they need to sell NOW, they are in trouble. Not every homeowner NEEDS to sell NOW, they still live in their homes and hopefully they are making their mortgage payment. They pay, they stay. They have a roof over their heads and they are upside down on paper. If they don't need to sell, they stay put and they continue to live there and IT DOES NOT MATTER AT THIS POINT THAT THEY ARE UPSIDE DOWN. This statistic really does not mean anything...... The real statistic is How many homeowners who have no choice but to sell are upside down????

IF YOU DO NOT NEED TO SELL, hang in there. Your family has a roof over their head and they are warm and safe.

IF YOU DO NEED TO SELL, you owe it to your self to contact The Payne Group immediately. We may be able to help but if we can not help, we will not lead you on, if you want the truth, you want The Payne Group!!

Want to know if you are upside down on your mortgage? Check out our online home valuation

Posted Friday Oct 10
( 10/10/08 12:11PM ) — Patty Carroll, ASP®, SRES® & Scott Carroll - RE/MAX, Vancouver WA

We were really surprised when we heard that as well. In our area we do not seem to have the problems that are happening in other areas of the country.

( 10/10/08 12:16PM ) — Jeff Payne, Real Estate in Panama City, FL

Real Estate is a local phenominon....  That number is more media sensationalism... The real number would be how many of the 12 million upside down homeowners NEED to sell NOW.

( 10/10/08 12:47PM ) — Pat Champion

How depressing the media.  The market will come back and the values will go back up.  That is the way it is in any investment.

( 10/10/08 08:23PM ) — Steve Shatsky - Dallas Real Estate & Short Sale Specialist

Hi Jeff... And remember, not every market is impacted evenly.  In some markets the numbers may be 1 in 15 and in other it might be 1 in 3.  Remember... all markets are local markets.  You can average numbers together for a national average, but there is no national housing market that affects local home values.

( 10/13/08 03:44PM ) — Jeff & Grace Safrin-SpousesSellingHouses REALTORS, F.C.Tucker Company, Indiana

We prefer this stat Jeff : nearly 1/3  (29%) of homeowners in this nation do not have a Mortgage!


we still inform our clients at every closing that if you send an extra principle payment in each month a 30 year Mortgage will be gone in 7


several over the years have taken this advice and have moved up!


it's alot different to go on a listing appointment with these 29% :)


Sincerely,


Grace

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