Roanoke, VA Ranks in the Top 20% of US Cities for Overleveraged/”Underwater” Homes

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Roanoke Virginia Negative Equity Heatmap

www.Zillow.com has just released a new tool on their site which allows home owners across the US to see how their neighborhood ranks among others for the amount of negative equity in their homes.  For months I’ve been researching this and I’ve found that roughly 55% of homes nationwide currently have less than 10% equity and 27% are over leveraged.  I have not been able to find data at the local level until now.  This confirms that Roanoke is NOT insulated from the effects of the overall real estate market as so many professionals lead you to believe.  In my experience here in Roanoke, pretty much any home owner who originated their loan after 2006 who did not put 20% or more down is most definitely in a negative equity situation.  That is why REsolutions Real Estate Services has introduced our Rent To Own program.

Through our Rent To Own program we can show over-leveraged owners how they can sell their home quickly to a qualified Tenant-Buyer who would love to own their home and doesn’t care about their equity position right now because they want to move in now and close later.  Our owners get immediate debt relief and our Tenant Buyers get a place to call HOME now rather than waiting several years.

If you would like to sell your Roanoke Virginia home but find that you owe more than it is worth click here to learn more about our services and the options available to you: REsolutions Rent To Own Program

 

This post was written by

Chad Corbett – who has written posts on www.REsolutionsVA.com.
Chad Corbett is a REALTOR, an Investor and a Consultant offering a variety of creative solutions and "outside of the box" services to both Buyers and Sellers. In addition to owning REsolutions Real Estate Services as an Investor, Chad owns Portfolio Properties Real Estate as a REALTOR. For somewhat-conventional real estate guidance focusing on Luxury Homes, Commercial Assets and Investment Properties throughout the country visit www.PortfolioPropertiesRE.com.

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  1. Pingback Nearly 30% of Roanoke Homes Are Still Underwater - We can Help! - www.REsolutionsVA.com | www.REsolutionsVA.com

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