{"id":1903,"date":"2017-03-13T00:00:00","date_gmt":"2017-03-13T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/homeowners-find-an-equity-bright-spot\/"},"modified":"2017-03-13T00:00:00","modified_gmt":"2017-03-13T00:00:00","slug":"homeowners-find-an-equity-bright-spot","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/homeowners-find-an-equity-bright-spot\/","title":{"rendered":"Homeowners Find an Equity Bright Spot"},"content":{"rendered":"

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One million U.S. borrowers regained equity in 2016, according to CoreLogic\u2019s newly released housing<\/a>\u00a0report. Further, about 63 percent of all homeowners saw their equity increase last year.<\/p>\n

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Read more<\/strong>: More Homeowners Turn to Their Equity Again<\/span><\/p>\n<\/blockquote>\n

Now, 93.8 percent of all mortgaged properties\u2014or about 48 million homes\u2014are in positive equity territory, according to the report.<\/p>\n

\u201cAverage home equity rose by $13,700 for U.S. homeowners during 2016,\u201d says Frank Nothaft, chief economist for CoreLogic. \u201cThe equity build-up has been supported by home price<\/a> growth and paydown of principal. \u2026 Further, about one-fourth of all outstanding mortgages have a term of 20 years or less, which amortize more quickly than 30-year loans<\/a> and contribute to faster equity accumulation.\u201d<\/p>\n

Texas had the highest percentage of homes with positive equity at 98.4 percent, followed by Hawaii (98.1 percent), Alaska (97.9 percent), Colorado (97.9 percent), Oregon (97.9 percent), Utah (97.9 percent), and Washington (97.9 percent)<\/p>\n

\u201cHome equity gains were strongest in faster-appreciating and higher-priced home markets,\u201d says Frank Martell, president and CEO of CoreLogic. The states with the largest home-price appreciation last year, according to the CoreLogic Home Price Index, were Washington and Oregon at 10.2 percent and 10.3 percent, respectively. The average homeowner equity gain in Washington was $31,000 and\u00a0$27,000 in Oregon.<\/p>\n

\u201cThis is double the pace for the U.S. as a whole,\u201d Martell says. \u201cAnd while statewide home-price appreciation was slower in California at 5.8 percent, the high price of housing there led to California homeowners gaining an average of $26,000 in home equity wealth last year.\u201d<\/p>\n

On the other hand, as of the fourth quarter of 2016, the number of residential properties with a mortgage<\/a> that stood in\u00a0negative equity was 3.17 million, or 6.2 percent of all homes with a mortgage. That marks a 25 percent decrease year-over-year, when\u00a0it stood at 4.23 million homes in the fourth quarter of 2015.<\/p>\n

Still, Nevada had the highest percentage of homes with negative equity at 13.6 percent, followed by Florida (11.6 percent), Illinois (11.1 percent), Rhode Island (10 percent), and Arizona (9.8 percent). CoreLogic\u2019s report notes that those five states alone accounted for nearly 30 percent of negative equity in the U.S.<\/p>\n

Source: CoreLogic<\/em><\/p>\n<\/div>\n

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One million U.S. borrowers regained equity in 2016, according to CoreLogic\u2019s newly released housing\u00a0report. Further, about … Homeowners Find an Equity Bright Spot<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":1904,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[12908,543,3051,627,127,344,604,408,312,1007,41,818],"class_list":["post-1903","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-home","tag-home-buying-guide","tag-homeowner","tag-homeowners","tag-homes","tag-housing","tag-loans","tag-mortgage","tag-mortgages","tag-owners","tag-property","tag-real"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/bdR97ai73bE","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":8728,"url":"https:\/\/amazingproperty.com.ng\/blog\/despite-rising-prices-negative-equity-persists\/","url_meta":{"origin":1903,"position":0},"title":"Despite Rising Prices, Negative Equity Persists","author":"Amazing Property","date":"June 11, 2018","format":false,"excerpt":"Though homeowners are seeing their equity grow\u2014properties with negative equity fell 3 percent in the first quarter of this year\u20142.5 million homes nationwide still are considered underwater, according to CoreLogic\u2019s Home Equity Report. Negative equity refers to borrowers who owe more on their mortgages than their homes are worth and\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"1806 Corelogic Negative Equity.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/06\/1806_CoreLogic_Negative_Equity.jpg?fit=858%2C1200&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/06\/1806_CoreLogic_Negative_Equity.jpg?fit=858%2C1200&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/06\/1806_CoreLogic_Negative_Equity.jpg?fit=858%2C1200&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/06\/1806_CoreLogic_Negative_Equity.jpg?fit=858%2C1200&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":5763,"url":"https:\/\/amazingproperty.com.ng\/blog\/report-1-in-4-homes-now-equity-rich\/","url_meta":{"origin":1903,"position":1},"title":"Report: 1 in 4 Homes Now Equity Rich","author":"Amazing Property","date":"August 17, 2017","format":false,"excerpt":"Homeowners should be feeling richer. At the end of the second quarter, more than 14 million U.S. properties were considered equity rich. (That means the combined loan amount secured by the property was 50 percent or less of the estimated market value of the property.) Nearly 320,000 properties joined the\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"1503014319_1_rss.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/1503014319_1_rss.png?fit=599%2C659&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/1503014319_1_rss.png?fit=599%2C659&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/1503014319_1_rss.png?fit=599%2C659&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":725,"url":"https:\/\/amazingproperty.com.ng\/blog\/equity-rich-properties-rise-by-1-3m-in-1-year\/","url_meta":{"origin":1903,"position":2},"title":"Equity-Rich Properties Rise By 1.3M in 1 Year","author":"Amazing Property","date":"February 10, 2017","format":false,"excerpt":"[ad_1] The equity picture is looking brighter for homeowners. 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Equity rich is when the loan on\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/02\/1_rss.png?fit=584%2C644&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/02\/1_rss.png?fit=584%2C644&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/02\/1_rss.png?fit=584%2C644&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":8610,"url":"https:\/\/amazingproperty.com.ng\/blog\/equity-rich-properties-hit-tipping-point\/","url_meta":{"origin":1903,"position":3},"title":"Equity-Rich Properties Hit Tipping Point","author":"Amazing Property","date":"May 3, 2018","format":false,"excerpt":"The number of equity-rich properties in the U.S. may have reached a tipping point, according to ATTOM Data Solutions\u2019 First Quarter 2018 U.S. Home Equity & Underwater Report. 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