Real Estate Analysis and Commentary in WINTER HAVEN

Polk County No. 1 in Underwater Homes
May 9th, 2015 5:29 AM
The latest report from RealtyTrac shows that Polk County, FL leads the nation with the highest percentage of single family residences seriously underwater with 28.7%. Number 2 was the Las Vegas metro area with 28.4%.  "Seriously underwater" is defined by RealtyTrac as those properties with a combined loan amount which is at least 25% greater than the estimated market value of the property.  Polk County was Number 2 with homes that are seriously underwater and in some stage of foreclosure with 55.1%.  Las Vegas was Number 1 with 57.6%.  While the real estate market is doing better today than in the 2010-2012 period, Polk County still has many distressed properties which continue to put a drag on values.

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Posted by Dave Hohman, ASA on May 9th, 2015 5:29 AMPost a Comment

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