Nearly 30% of Roanoke Homes Are Still Underwater – We can Help!
By Chad Corbett on in Home Sellers, Real Estate Market Statistics, Rent To Own Sellers, Uncategorized with No Comments
Nearly 30% of Roanoke, VA Homeowners are Underwater or Have Negative Equity in Their Home. REsolutions Real Estate Services Can Help.
In May 2012 I posted an article on the negative equity problem in our market. Although the real estate activity has picked up since then prices have only increased slightly and only in certain areas. Many Roanoke home owners and Sellers cannot sell their homes because they have no equity and cannot afford to pay REALTOR commissions or even to sell at market value.
As you can see by the Zillow.com heat map and the summary table I’ve made below, some neighborhoods have been hit harder than others due to the high number of foreclosures and short sales in the market as a result of buying at the peak of the market and having a reduction in income, job loss or an increase in the mortgage payment that lead to a foreclosure.
Negative Equity / Underwater Homes in the Roanoke, VA Market as of 3/25/13
There are Options for Owners with Little to No Equity Who Need To Sell a House
If you are Selling a house in Roanoke but have not been able to sell using a REALTOR or For Sale By Owner please take a minute to familiarize yourself with our Rent To Sell Program. We can buy your house even if you are one of the unfortunate owners who cannot sell conventionally because you have no equity. Be sure to review the Benefits of our program as well as the Frequently Asked Questions and How the Process Works.
The only way to be sure of what your home is worth is to have a professional run a market analysis to see. If you’re interested in learning more about the value of your home and the options available to you please Register Now so we can schedule a FREE consultation and review your home value and options for selling your home.
Here is a Seller Testimonial From a Salem, VA Seller who was 20% Underwater on His Home but was Able to Sell to a Great Buyer and Get His Payments Covered Quickly.