{"id":725,"date":"2017-02-10T00:00:00","date_gmt":"2017-02-10T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/equity-rich-properties-rise-by-1-3m-in-1-year\/"},"modified":"2017-02-10T00:00:00","modified_gmt":"2017-02-10T00:00:00","slug":"equity-rich-properties-rise-by-1-3m-in-1-year","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/equity-rich-properties-rise-by-1-3m-in-1-year\/","title":{"rendered":"Equity-Rich Properties Rise By 1.3M in 1 Year"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div property=\"dc:description\" readability=\"53.078408195429\"><!--paging_filter--><\/p>\n<p>The equity picture is looking brighter for homeowners. At the end of 2016, there were 13.9 million U.S. properties \u2013 or nearly 25 percent of the <a href=\"https:\/\/amazingproperty.com.ng\/blog\/property-center-nigeria\/\">housing<\/a> stock with a <a href=\"https:\/\/amazingproperty.com.ng\/blog\/mortgage-preapproval-guide-for-home-buyers\/\">mortgage<\/a> &#8212; that were considered equity rich, according to ATTOM Data Solutions.<\/p>\n<p>Equity rich is when the <a class=\"wpil_keyword_link\" href=\"https:\/\/amazingproperty.com.ng\/blog\/get-real-estate-loan-for-real-estate-investors\"   title=\"loan\" data-wpil-keyword-link=\"linked\">loan<\/a> on the property is 50 percent or less of the property\u2019s estimated market value. The number of equity-rich properties has grown by 1.3 million homes compared to a year ago.<\/p>\n<blockquote readability=\"11.724137931034\">\n<p><strong>Where to Find the Equity Rich<\/strong><\/p>\n<p>The states with the highest share of equity-rich properties at the end of 2016 were:<\/p>\n<ul>\n<li>Hawaii: 37.8%<\/li>\n<li>Vermont: 36.9%<\/li>\n<li>California: 36%<\/li>\n<li>New York: 34.9%<\/li>\n<li>Oregon: 32%<\/li>\n<\/ul>\n<p>On a metro-level, the following metros with a population of at least 500,000 had the highest share of equity-rich properties:<\/p>\n<ul>\n<li>San Jose, Calif.: 51.6%<\/li>\n<li>San Francisco: 47.7%<\/li>\n<li>Honolulu: 39.8%<\/li>\n<li>Los Angeles: 39.2%<\/li>\n<li>Pittsburgh, Pa.: 35.8%<\/li>\n<\/ul>\n<p><em>Source: RealtyTrac<\/em><\/p>\n<\/blockquote>\n<p>The highest share of equity-rich properties were homes that had been owned more than 20 years, followed by those owned for between 15 to 20 years, ATTOM Data Solutions\u2019 report shows.<\/p>\n<p>\u201cSince home prices bottomed out nationwide in the first quarter of 2012, the number of seriously underwater U.S. homeowners has decreased by about 7.1 million, an average decrease of about 1.4 million each year,\u201d says Daren Blomquist, senior vice president with ATTOM Data Solutions. \u201cMeanwhile, the number of equity rich homeowners has increased by nearly 4.8 million over the past three years, a rate of about 1.6 million each year.\u201d<\/p>\n<p>By the end of 2016, there were 5.4 million U.S. properties \u2013 or 9.6 percent of all U.S. properties with a mortgage \u2013 that were considered seriously underwater, in which the <a href=\"https:\/\/amazingproperty.com.ng\/blog\/fast-flexible-real-estate-loans-usa\/\">loan<\/a> amount on the property was at least 25 percent higher than the property\u2019s currently estimated market value. That marks a decrease of more than 1 million properties from a year ago.<\/p>\n<p>Despite the decrease in seriously underwater borrowers over the past five years, \u201cthe massive loss of home equity during the housing crisis forced many homeowners to stay in their homes longer before selling, effectively disrupting the historical domino effect of move-up buyers that feeds both demand for new homes and supply of inventory for first-time homebuyers,\u201d Blomquist says. \u201cBetween 2000 and 2008, our data shows the average homeownership tenure nationwide was 4.26 years, but that average tenure has been trending steadily higher since 2009, reaching a new record high of 7.88 years for homeowners who sold in 2016.\u201d<\/p>\n<div class=\"tableauPlaceholder\" id=\"viz1486726706675\" style=\"position: relative\"><noscript><img data-recalc-dims=\"1\" decoding=\"async\" alt=\"Year-End 2016 Home Equity Heat Map \" src=\"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2023\/01\/8d24366364dfb09fa83ddf80dbdd0abb.png?ssl=1\" style=\"border: none\"\/><\/noscript><\/div>\n<p><em>Source: <span style=\"display: none;\">\u00a0<\/span>RealtyTrac<\/em><\/p>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"http:\/\/feedproxy.google.com\/~r\/DailyRealEstateNews\/~3\/8-vbA66h0LY\/equity-rich-properties-rise-13m-in-1-year\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] The equity picture is looking brighter for homeowners. At the end of 2016, there were &hellip; <a title=\"Equity-Rich Properties Rise By 1.3M in 1 Year\" class=\"hm-read-more\" href=\"https:\/\/amazingproperty.com.ng\/blog\/equity-rich-properties-rise-by-1-3m-in-1-year\/\"><span class=\"screen-reader-text\">Equity-Rich Properties Rise By 1.3M in 1 Year<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":726,"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":false,"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":[4751,1403,12908,543,627,127,344,408,258,204,1007,41,818],"class_list":["post-725","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-amazing","tag-buy","tag-home","tag-home-buying-guide","tag-homeowners","tag-homes","tag-housing","tag-mortgage","tag-new-home","tag-new-homes","tag-owners","tag-property","tag-real"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/02\/1_rss.png?fit=584%2C644&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":5763,"url":"https:\/\/amazingproperty.com.ng\/blog\/report-1-in-4-homes-now-equity-rich\/","url_meta":{"origin":725,"position":0},"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 &quot;Opportunities In New Markets&quot;","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":8610,"url":"https:\/\/amazingproperty.com.ng\/blog\/equity-rich-properties-hit-tipping-point\/","url_meta":{"origin":725,"position":1},"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. Equity-rich properties in the U.S. in the second quarter are down from their peak in the second quarter of 2017. ATTOM Data\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"1 Rss.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/05\/1_rss.png?fit=599%2C586&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/05\/1_rss.png?fit=599%2C586&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/05\/1_rss.png?fit=599%2C586&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":4454,"url":"https:\/\/amazingproperty.com.ng\/blog\/1-4m-more-homeowners-regain-equity\/","url_meta":{"origin":725,"position":2},"title":"1.4M More Homeowners Regain Equity","author":"Amazing Property","date":"May 8, 2017","format":false,"excerpt":"The number of U.S. properties considered \"equity rich\" has increased by nearly 1.4 million units from a year ago, according to the First Quarter 2017 U.S. Home Equity & Underwater Report produced by ATTOM Data Solutions. Now, more than 13.7 million homes\u2014or about a quarter of all U.S. residential properties\u2014fall\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1903,"url":"https:\/\/amazingproperty.com.ng\/blog\/homeowners-find-an-equity-bright-spot\/","url_meta":{"origin":725,"position":3},"title":"Homeowners Find an Equity Bright Spot","author":"Amazing Property","date":"March 13, 2017","format":false,"excerpt":"One million U.S. borrowers regained equity in 2016, according to CoreLogic\u2019s newly released housing\u00a0report. Further, about 63 percent of all homeowners saw their equity increase last year. Read more: More Homeowners Turn to Their Equity Again Now, 93.8 percent of all mortgaged properties\u2014or about 48 million homes\u2014are in positive equity\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8728,"url":"https:\/\/amazingproperty.com.ng\/blog\/despite-rising-prices-negative-equity-persists\/","url_meta":{"origin":725,"position":4},"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 &quot;Opportunities In New Markets&quot;","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":1611,"url":"https:\/\/amazingproperty.com.ng\/blog\/more-homeowners-turn-to-their-equity-again\/","url_meta":{"origin":725,"position":5},"title":"More Homeowners Turn to Their Equity Again","author":"Amazing Property","date":"March 6, 2017","format":false,"excerpt":"As home values rise fast, homeowners are starting to realize they have a lot of wealth tucked into their homes, and it\u2019s become enticing to tap into it. Read more: Equity-Rich Properties Rise By 1.3M in 1 Year Since the housing crash, homeowners have been shy about accessing any of\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/725","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/comments?post=725"}],"version-history":[{"count":1,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/725\/revisions"}],"predecessor-version":[{"id":90405,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/725\/revisions\/90405"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media\/726"}],"wp:attachment":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=725"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=725"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=725"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}