Thursday, December 25, 2014

Friday, December 19, 2014

Highlights for 2014

Friday, December 19, 2014

Phoenix housing market highlights for the year
After several years of wild roller-coaster activity, the Phoenix-area housing market is ready to end a relatively flat year. Highlights for the year include:
* The median single-family-home sales price went up 4% in October from a year ago - from $200,000 to $208,000
* Sales of single-family homes down 5% from last October
* The Valley is experiencing a small bump up in two areas - investor interest and new-home sales
* The market share for new-home sales is doing better and has recovered to 14%
Read article - ASU News

Wednesday, December 10, 2014

3% down payment

3% Down Payments May Be Game Changer
Fannie Mae and Freddie Mac has announced that first-time home buyers can now qualify for loans with down payments as low as 3%. Freddie Mac launched Home Possible Advantage, a conventional mortgage with a 3% down-payment requirement geared to low- and moderate-income borrowers. To qualify, first-time home buyers are required to participate in a borrower education program. With Fannie Mae's 3% down-payment offering, borrowers must still meet standard eligibility requirements, including underwriting, income documentation, and risk management standards. At least one of the co-borrowers must be a first-time buyer. The loans will require private mortgage insurance.
Read article - Realtor Magazine

Monday, December 8, 2014

Phoenix a growing Market

Monday, December 8, 2014 

10 Markets to Grow the Most Next Year
The U.S. housing market is expected to make strides overall in 2015, but 10 metros in particular are "ready for significant acceleration across housing metrics" next year, according®'s latest housing report. The Phoenix-Mesa-Glendale market made the list at #8 thanks to the following expectations: income growth; increase in new-home construction by 22%; home sales expected to grow by 11%.
Read article - Realtor Magazine

Wednesday, October 29, 2014

Rental prices on the rise!

Wednesday, October 29, 2014

Rents on the rise for metro Phoenix houses, apartments
Renters are paying more for apartments and houses in metro Phoenix than they did a year ago. The average rent on an apartment climbed 4.9% during the past year to reach $815 a month at the end of September. Monthly rents on houses are up 5.8 percent from last year. In September, there were 4,342 houses, not including vacation homes, for rent that were listed on the ARMLS.
Read article -

Monday, October 20, 2014

purchase vs rent

Buying in metro Phoenix is as much as 34 percent cheaper than renting a house, based on current home prices, rents, types of mortgages and interest rates. The comparison comes from home-buying website Trulia, but the data appears to be unbiased.
Falling interest rates over the past few weeks have made buying more affordable for most people. The average rate for a 30-year mortgage is 4.12 percent, according to Freddie Mac. That's compares with 4.23 a month ago.
Nationally, Trulia says buying is now 38 percent cheaper than renting if you stay in a house seven years, get a 30-year mortgage, put 20 percent down, itemize deductions at the 25 percent tax bracket and get a 4.3 percent mortgage rate. The formula also takes into account closing costs, insurance, maintenance and taxes.
What is really surprising about the survey is that buying is cheaper in all of the U.S.'s 100 largest metro areas.
The benefit is the smallest in Honolulu, where purchasing a house is 17 percent less expensive than renting. Detroit home buyers get the best deal because Trulia found it's 63 percent cheaper to own than rent.

Friday, August 22, 2014

Mortgage rates sink

Mortgage Rates Sink to New Low for 2014

Despite predictions that mortgage rates were to inch up in the second half of this year, fixed-rate mortgages continue to tumble.
Borrowing costs moved lower this week, as the 30-year fixed-rate mortgage dipped to a 4.10 percent average, Freddie Mac reports in its weekly mortgage market survey. The 30-year fixed-rate mortgages previous low average for the year was 4.12 percent.
Forecasts: Right or Wrong?
Freddie Mac reports the following mortgage rate national averages for the week ending Aug. 21:
  • 30-year fixed-rate mortgages: averaged 4.10 percent, with an average 0.5 point, dropping from last week’s 4.12 percent. Last year at this time, 30-year rates averaged 4.58 percent.
  • 15-year fixed-rate mortgages: averaged 3.23 percent, with an average 0.6 point, dropping from last week’s 3.24 percent average. A year ago, 15-year rates averaged 3.60 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 2.95 percent, with an average 0.5 point, dropping from last week’s 2.97 percent average. Last year at this time, 5-year ARMs averaged 3.21 percent.
  • 1-year ARMs: averaged 2.38 percent, with an average 0.5 point, rising from last week’s 2.36 percent average. A year ago, 1-year ARMs averaged 2.67 percent.
Source: Freddie Mac

Wednesday, July 30, 2014

Monday, July 28, 2014


Hello all  
With summer reaching it's highs here is some info to be aware of:
We've all heard of fake Rolexes and Gucci purses, but counterfeit refrigerant?! Counterfeit and alternative refrigerants may be rare, but you should be aware that they're out there—and they represent a safety hazard that could damage your clients' HVAC systems.

The cost of R-22 Freon is skyrocketing, and this rapid acceleration in price has created a market for counterfeit and alternative refrigerants. The same holds true for R-134a used in kitchen refrigerators, and the fake stuff can be dangerous!

Genuine, alternative, and counterfeit refrigerants… what's the difference?

Genuine Refrigerants have been laboratory tested and approved by the EPA and HVAC manufacturers for use in their equipment. When refrigerant is required to perform covered A/C system repairs, Old Republic Home Protection (ORHP) covers the cost of genuine refrigerant.

Alternative Refrigerants are approved by the EPA but not by manufacturers for use in their equipment. Using alternative refrigerants is legal, but can void the manufacturer's warrantyas an improper repair. Likewise, Old Republic Home Protection's Plan does not cover a system failure if alternative refrigerant is determined to be the cause (please see Limitations of Liability, paragraph 1.E. of our Home Warranty Plan). We follow manufacturer guidelines when adding refrigerant to complete repairs; we do not use alternatives!

Counterfeit Refrigerants are illegal to use or sell, and neither the EPA nor the equipment manufacturers have approved their use. Counterfeit refrigerants are often a concoction of genuine refrigerant and additives. These "cocktails" can be dangerous, as they may be toxic and/or explosive. ORHP's Plan does not cover a system failure if counterfeit refrigerant is determined to be the cause. In addition, it is not likely that any of our Independent Network Service Providers will provide service if they discover a counterfeit, as it may require specialized hazmat methods for cleanup.

Give your home buyers the best advice: suggest that they have the HVAC system checked by a trusted HVAC expert rather than relying on the usual home inspection. HVAC experts can spot alternative and counterfeit refrigerants, in addition to other potential HVAC issues that require correction prior to close-of-sale.

Monday, July 21, 2014

Buying a home? Don't make these mistakes!

5 Mistakes First-Time Home Buyers Make

First-timers can be eager to jump into home ownership. But real estate experts say they see them committing the same mistakes, time and time again. Here are some of the most common ones, as identified by experts in a recent CNBC article:
1. They’re unprepared to compete against all-cash offers. Buyers need to be ready to make a quick decision if they’re housing market is heating up. Buying a home is “really like finding a job – it’s going to take a lot of time to prepare,” says Cara Pierce, a certified housing counselor with ClearPoint Credit Counseling Solutions. “That way, when the deal comes along, you’re ready to pounce on it.” Housing experts say buyers should have already saved as much as possible for a downpayment, repaired any credit report blemishes, and gotten preapproved for a loan as they start their house hunt to put them in a better position to compete.
Improve Your Relationships with First-Timers
2. They place a car ahead of the home. Lenders are going to scrutinize applicants’ debt-to-income ratio when assessing how well they can afford a mortgage payment. Consumers’ debt has gone on average from $40,000 in 2010 to $51,000 today, according to David Norris, president and COO of loanDepot, a non-bank mortgage lender. "It would be much easier to own a home if you can show a history of saving and not have gotten yourself into too much debt," Norris told CNBC.
3. They place too much emphasis on online loan information. Online sites can be good for finding out general information about loan products and estimated costs, but experts recommend visiting with mortgage lenders face-to-face to help demystify some of the process and to take into account your specific situationGo to different places and talk to loan officers to get a feel for what the differences are between similar types of loans," says Pierce. "Sometimes a company won't charge an origination fee, but then the interest rate is higher … and in some cases you can put many of the upfront costs—closing costs, title insurance—into the loan, which makes your balance larger."
4. They bank too much on online home values. Some real estate websites are giving buyers a false sense of home values, the CNBC article notes. "If a buyer believes that the actual value of the property is $1.1 million [as listed online] when it's really $1.3 million, it's a real disservice to the client,” says John Barrentine, co-founder and CEO of RED Real Estate Group. “You really should [spend time] with someone that understands the market, someone who's there day in and day out." Home buyers can get the best feel of the market by working with a real estate agent and driving around neighborhoods and get a sense of things about homes that may be less valuable or even more valuable than perceived online.
5. They forgo the home inspection. About 10 percent of homes recently purchased weren’t inspected by a home inspector, according to Bill Loden, president of the American Society of Home Inspectors. Some buyers were trying to cut down on the costs of hiring an inspector to investigate a home – which usually averages about $450 — but defects uncovered later could potentially result in the loss of thousands of dollars. "It takes a trained eye to be able to see the problems that can exist in a home," Loden said. "The inspection can also give the first-time buyer a bit of a schooling on the house and how to maintain it." Buyers should also be prepared to ask questions about conditions that are common to specific areas, such as radon in Midwest; sewers in California; and active clay soils in Dallas that can lead to foundation issues, the CNBC article notes. The home may require additional inspection from a specialist to rule out potential problems.
Source: “8 Biggest Mistakes First-Time Homebuyers Make,” CNBC (July 17, 2014)

Friday, July 11, 2014

Home sales in May

The number of home sales in metro Phoenix dipped 20 percent compared with May 2013.

As the temperatures climbed in May across metro Phoenix, prospective homebuyers stayed out of the market. Prices were flat, and sales fell dramatically from the year before.
The median sales price for a Valley house was $205,000 in May, the same price it has been since March, according to the latest report from the W.P. Carey School of Business at Arizona State University.
In May, 7,935 houses sold. The number of sales was down 3 percent from April and down 20 percent from May 2013.
"Demand has been much weaker since July 2013," said Mike Orr, director of the Center for Real Estate Theory and Practice at W.P. Carey.
He said the housing market has become "extremely quiet" as some sellers canceled listings to wait for more buyers to enter the market.
Although the supply of houses for sale is falling, demand will have to pick up for median prices to climb again this year, Orr said.

Monday, July 7, 2014

Great time to buy in Phoenix? Yes it is!


Written by  on Wednesday, 02 July 2014 12:39 pm
The nature of market bottoms is that it's hard to tell one's occurred until prices and sales volume start to rise again. That's why the best time to buy is when market conditions suggest a bottom.
That means there's still some risk for homebuyers, since no one has a crystal ball that predicts the future. To take advantage of low mortgage interest rates and home prices still well below previous records, you may have to take a risk, such as riding out another short-term dip in property values.
But the rewards may be well worth it. Here are five reasons to buy a home right now.
1. More jobs are available
Total nonfarm payrolls rose by 217,000 in May, and the unemployment rate is 6.3 percent, according to the U.S. Bureau of Labor Statistics. Employment increased in professional and business services, health care and social assistance, food services and drinking places, and transportation and warehousing.
2. Houses are a great hedge against inflation
The Labor Department also says the May Computer Price Index is up 2.13 percent year-over-year. The index for all items less food and energy rose 0.3 percent in May, its largest increase since August 2011.
The CPI excludes volatile food and energy, so you can bet that the accelerating cost of things, otherwise known as inflation, also includes housing. You may be paying more for goods and services, but if you're a homeowner, you're better off financially. A major asset such as a home, purchased at a fixed cost, becomes more valuable when prices inflate.
3. Housing price increases are slowing
The median existing-home price was $213,400, over 5 percent above May 2013. Considering that the national median existing-home price was $158,800 in January 2011. That's when the PMI Insurance Company said home prices relative to income are below market fundamentals in more than half of U.S. states. Prices overcorrected during the recession, and then they soared by the double-digits in 2013.
Now housing is correcting once again from an overcorrection. Now's the time to take advantage of better homebuying conditions.
4. Mortgage interest rates are still low
During the recession, mortgage interest rates for a benchmark 30-year, fixed-rate loan, averaged 4.32 percent. Now they're close to that and there's no recession. That means mortgage rates have nowhere to go but up.
5. Pent-up demand ready to release
Since the recession, household formation fell dramatically to one percent of the national population. But considering that the leading age of the largest generation ever - 81 million Echo Boomers -- is now over 30, the numbers should be closer to the 2.3% annual growth of the 1970's, when 78 million Baby Boomers reached adulthood.
The National Association of Homebuilders (NAHB) said about 2.1 million households delayed formation due to the recession which allegedly ended in 2011. Now there's pent-up demand for housing that should continue to drive home prices higher.
The takeaway
A housing recovery doesn't occur in a straight line. There are surges and dips. Buyers could wait for better conditions, but the present alignment of falling mortgage interest rates, slower home prices, and larger selection is highly unlikely to reoccur.
This may not be the bottom, but it's close enough.

Wednesday, June 18, 2014

How much of a down payment do you need? Read below

You Don't Need That Much of a Down Payment

Many consumers are overestimating  the down payment they need in order to purchase a home, according to Christina Boyle, vice president and head of single-family sales at Freddie Mac.
Consumers believe they need 11 percent to 15 percent in order for lenders to approve them for a loan, according to a survey of renters and non-home-owners conducted by Zelman & Associates in New York. Thirty-nine percent say they need at least 15 percent of the purchase price in order to qualify for financing. Only 28 percent of respondents say they would even qualify for a mortgage.
But in reality, home buyers often can qualify for a conforming, conventional mortgage with a down payment of as little as 5 percent — and sometimes even 3 percent — Boyle writes. Between 2009 and 2013, Freddie Mac’s purchases of mortgages with down payments of less than 10 percent more than quadrupled. So far in 2014, more than one in five borrowers who took out conforming, conventional mortgages put down 10 percent or less.
“Letting more consumers know how down payments are determined could bring more qualified borrowers off the sidelines,” Boyle writes. “Depending on their credit history and other factors, many borrowers can expect to make a down payment of about 5 percent or 10 percent.” However, Boyle notes that any borrower who puts down less than 20 percent will be required to buy mortgage insurance.
Boyle says that buyers should also be encouraged by the abundant down-payment assistance programs that exist to help break into home ownership. Every state in the U.S., as well as many cities and counties, offer down-payment assistance programs for qualified borrowers, such as the American Dream Downpayment Initiative and HOME Investment Partnerships Program.
Read more:

Monday, June 2, 2014


As home prices have climbed and foreclosures tumbled in recent years, it’s been increasingly difficult for Phoenix-area home investors to score a bargain.
But new research by RealtyTrac today shows that hasn’t necessarily been a deterrent for house flippers.
In fact, RealtyTrac said the Phoenix area had the second-highest number of home flips in the nation between April 2013 and March 2014.
RealtyTrac defines flips as homes that were bought and sold within one year, and for a profit.
Maricopa County had 4,632 flips during the aforementioned period, second only to the New York-New Jersey metro area’s 7,066 flips, the report showed. Keep in mind the Phoenix metro area has a population of roughly 4.4 million, while it's a whopping 20 million in and around New York.
Phoenix-area flippers raked in a 31.42 percent gross profit on average, based on an average purchase price of $172,547 and an average sale price of $226,761.
According to the most recent Arizona State University data, house flippers made up 7 percent of all Valley single-family purchases in March, up slightly from 6 percent a year prior.
Also, the median price of those March investor flips — $172,500 — was up 18.2 percent year-over-year, which was the biggest jump of any transaction type, ASU said.
RealtyTrac did not, however, consider Maricopa County one of the best places for flipping. But that’s not really a bad thing.
One of the criteria for RealtyTrac’s top 14 list of best counties for flipping was that foreclosures increased year-over-year. These counties also had to have unemployment rates below the 6.7 percent March national average and the flips made at least a 30 percent profit on average.
While Maricopa County met the other criteria, it failed to make the list because foreclosures dropped 52 percent year-over-year.
Kristena Hansen covers residential and commercial real estate.

Wednesday, May 21, 2014

Phoenix is 8th most affordable metro area for homebuyers

Wednesday, May 21, 2014

Phoenix is 8th most affordable metro area for homebuyers
Phoenix is a relatively affordable market in which to buy a home, according to a report released by The report looks at the salary needed to buy a median-priced home in 27 metro areas around the country. Phoenix ranks 8th with a salary of $41,308.74 needed.
Read article - 

Monday, May 19, 2014


2 subdivisions underway in north Phoenix
One can't help but notice the pattern of house lots outlined on the slope of a hill as motorists travel Interstate 17 in north Phoenix. Stoneledge at North Canyon is projected to have model homes finished by late July. It's south of Carefree Highway and north of North Valley Parkway, and west of 27th Drive, against a hill that developers say will offer stunning views. La Solana is the other new subdivisions underway south of Carefree Highway and north of Dove Valley Road in Phoenix Council District 2. Nearly 1,600 new homes are zoned for the area.
Read article -  

Tuesday, March 4, 2014

March events

Almost every day in March 
Cactus League Baseball
Each March the 15 Major League Baseball teams that make up the Cactus League come to Arizona for exhibition baseball. Map of all the Spring Training Stadiums.

February 27, 28, March 1, 2 
Parada del Sol Rodeo
By the Scottsdale Jaycees. The Parada del Sol Rodeo is a PRCA sanctioned rodeo and consists of 5 sessions over a period of three days at WestWorld in Scottsdale.

March 1 
Wine, Women and Horses
Learn to play the ponies, hat contest, horse races, prizes, raffle, luncheon. Turf Paradise, Phoenix.

March 1 
Great Arizona Beer Festival
Sample more than 200 specialty and micro-brewed beers from all over the Southwest and beyond. The festival also features live music, food, and fun for people ages 21 and over. Tempe Beach Park.

March 1 
Exclusively Little
This free admission event for children six years and younger features game booths, moonwalks, face painting, a petting zoo, health demonstrations and other entertainment. Train and carousel rides (small charge).

March 1, 2 
Devoured Food + Wine Classic
Features food and wine tastings from local artisans, farms, restaurateurs, food producers and vintners. Phoenix Art Museum. 

February 8 - March 30 
Arizona Renaissance Festival
Each year you can enjoy music, theater, comedy, food and drink, crafts, games and knights jousting at the Arizona Renaissance Festival. Apache Junction.

March 5 - 9 
Cactus Reining Classic
400 of America’s top horses and riders compete. Judged on athletic ability while executing an assigned pattern, these horse and rider combinations are required to demonstrate circles, spins and sliding stops. Free to spectators. WestWorld, Scottsdale.

March 7 - 9 
Good Guys Spring Nationals
More than 2,000 Rods, Customs, Classics, Trick Trucks and Muscle Cars; Vendor & Manufacturer Exhibits; Swap Meet & Cars 4 Sale Corral; Model & Pedal Car Show; Hot Rod Cruise. WestWorld, Scottsdale.

March 7, 8, 9 
Maricopa County Home and Garden Show
Hundreds of vendors, seminars, workshops, contests. University of Phoenix Stadium, Glendale.

March 8 
Anthem at Merrill Ranch Community Spring Festival
Hot air balloon rides, skateboard exhibition, train ride, petting zoo, pony rides, dog agility demonstrations, entertainment, inflatable attractions, food vendors, business vendors. Florence.

March 8, 9
Arizona Aloha Festival
Music, dance, song, and rhythms of Hawaii and Polynesia. Also enjoy island foods and shop for crafts and products. Tempe Beach Park.

March 15, 16 
Luke Days
Air shows, food, games, and attractions at Luke Air Force Base in the West Valley. Free admission.

March 14, 15 
Checkered Flag Run
Two days of activities for motorcycle enthusiasts. Meet & greets, bike show, ride to NASCAR event. Various locations.

March 14 - 16 
Chicago Fest
Celebrate all things Chicago. Food, history, music, baseball. Mesa Riverview.

March 14 - 16 
Fountain Hills Fine Art and Wine Affaire
Arts, crafts, entertainment, wine. Sponsored by Thunderbird Artists. Fountain Hills.

March 15th
31st Annual St. Patrick’s Day Parade and Faire
The Phoenix St. Patrick’s Day Parade began in 1984. It’s purpose is to preserve and enhance the heritage and traditions of the Irish Culture as well as share that culture with the citizens of Arizona. The Parade has marching bands, Irish step dancers, bagpipers, police and fire vehicles, government dignitaries, floats, the 2014 Arizona Irish Colleen / Arizona Rose with her Court and a whole lot more.

March 20 
Birds ‘n’ Beer
Birds ‘n Beer offers local professionals a fun and refreshing way to learn about Arizona birds and other wildlife while networking with fellow nature-lovers. Have a cold brew while enjoying an enlightening and lively presentation on Arizona nature. Nina Mason Pulliam Rio Salado Audubon Center in Phoenix. RSVP requested 602-468-6470. 

March 22, 23 
Arizona Dragon Boat Festival
Dragon Boat Races at Tempe Town Lake. Craft booths and entertainment.

March 22 
Archaeology Festival
Activities highlighting the archaeology, rock art, and desert ecology of Arizona. Activities include archaeology demonstrations, guest exhibitors, guided hikes on the petroglyph trail, mock archaeology dig for kids, rock art and archaeology themed children’s art exhibit, live Sonoran Desert wildlife, music. Free admission. Deer Valley Rock Art Center, Phoenix.

March 22 
Beer for Brains Epicuriad
Chefs create beer and wine parings with gourmet dishes in friendly competition. Raffle and live music in a cocktail party setting. Proceeds the Beer for Brains Foundation to find a cure for brain cancer. Phoenix.

March 22
American Indian Art & Artifacts Appraisal Day
Get an expert opinion on your American Indian artwork as leading art traders offer information about materials, dates, artists and traditions. Appraisals are not for insurance purposes, but solely for educational information. Appraisal fees apply. Heard Museum. 

March 22 
Astronomy Evenings
A talk (novice level) explaining facts about the solar system and the galaxy around the planet earth followed by observing the moon, several planets, star systems through a celestron telescope. Weather permitting. Registration required. Ages 8+. Pinnacle Peak Park, Scottsdale.

March 22, 23 
Arizona Touch of Class Miniature Horse Show
At WestWorld in North Scottsdale. Registered miniature horses in performances and competition. Free admission, free parking.

March 22 
Just for Kids Fishing Festival
Anglers United organizes a free fishing event for hundreds of kids at Kiwanis Park in Tempe.

March 22 
Great American BBQ & Beer Festival
A family festival in the streets of downtown Chandler where you can listen to music, have fun and enjoy great food and beer. Downtown Chandler.

March 28
Agave on the Rocks
Celebrate Sonoran roots with gourmet cuisine prepared by renowned Valley restaurants and caterers, music and margaritas. 21+ only. Desert Botanical Garden, Phoenix.

March 28 - 30 
Fiesta Days Rodeo in Cave Creek
Golf tournament, dance, parade, three-performance PRCA rodeo and related events. Entertainment for cowboys and cowgirls of all ages.

March 29, 30 
Anthem Days
Arts, crafts and business fair, live musical entertainment, carnival rides and games, food court and beer garden, bounce houses and egg hunt. Anthem Community Park.

March 29, 30 
Arizona Game and Fish Expo
Activities, demonstrations and exhibits in the areas of hunting, fishing, recreational shooting, archery, off-highway vehicle (OHV) and watercraft recreation, conservation and wildlife education, camping and other outdoor elements.

March 30 
Bon Vivant - A Celebration of Fine Food & Drink
Hundreds of varieties of wines, beers, and non-alcoholic beverages will be sampled and cuisine from the valley’s hottest restaurants. Live entertainment. Tickets start at $65. 21+ only. Tempe Marketplace.

March 30 
Eight’s Check, Please! Arizona Festival
A food event highlighting Arizona’s independent restaurant scene, the event showcases cuisine from restaurants featured on the locally produced TV show Check, Please! Arizona. Seminars, cooking demonstrations. CityScape, Downtown Phoenix.

Friday, February 28, 2014

Phx homeowners lifted out of underwater

Fri Feb 28, 2014 9:44 AM
Higher home prices have lifted more metro Phoenix homeowners out from underwater on their mortgages.
Only about 22 percent of Valley homeowners owe more on their mortgage than their house is worth now, according to real estate brokerage and data firm That's down from a high of 36 percent during in the fall of 2011 after home prices plummeted to the lowest level during the housing crash.
But the rate isn't likely to drop by much more this year, according to real estate analysts forecasting a slower price appreciation for the region's housing market.
A breakdown of Phoenix-area underwater homeowners, and how much they owe:
-Fewer than 20 percent of homeowners underwater owe more than 42 percent of what their house is worth.
-A range of 21 to 40 percent owe 22 percent more than their house is worth.
-A range of 41 to 60 percent owe about 12 percent more than their house is worth.
-A range of 61 to 80 percent own 7 percent more than their house is worth.
-A range of 81 to 100 percent owe 4.4 percent more than their house is worth.
-About 13 percent of Valley homeowners owe more than double what their is house is currently rate.
Las Vegas has the highest negative equity rate for homeowners in the country at 35 percent.
Nationally negative equity has fallen for the past seven quarters, freeing almost 3.9 million homeowners nationwide in 2013. The U.S. rate for homeowners underwater is slightly below 20 percent.