Report: Underwater properties declined in area in 2Q – Richmond Times

Posted: Wednesday, July 29, 2015 10:30 pm

Report: Underwater properties declined in area in 2Q

By CAROL HAZARD
Richmond Times-Dispatch

Richmond Times-Dispatch

A total of 10.4 percent of homes in the Richmond area with mortgages were seriously underwater in the second quarter, meaning the combined loan amount secured by the property was at least 25 percent higher than the property’s estimated value, according to a report released this morning by RealtyTrac, a real estate researcher.

That is down from a peak of 22.3 percent of Richmond homes that were seriously underwater in the second quarter of 2013, the earliest that RealtyTrac recorded underwater data at the metro level.

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Wednesday, July 29, 2015 10:30 pm.

Article source: http://www.richmond.com/business/local/article_645909dd-56f3-5cba-8c69-0a62dda80a5b.html

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