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Bay Area homeowners are the most equity rich in the U.S.

August 13, 2018 By Geoffrey Disch Leave a Comment

Green Escrow Services | Adding value to home

On the plus side of the exorbitant real estate prices in the San Francisco Bay Area is that those fortunate enough to actually own a home are the most equity rich in the United States. Currently the five zip codes of the most equity rich properties include: San Francisco 94116 (86 percent), Sunnyvale 94086 (84 percent), Mountain View 94040 (84 percent), Sunnyvale 94087 (84 percent) and San Francisco 94122 (84 percent).

On the other side, 1 in 10 homes nationwide is still “underwater,” meaning “combined value of the loans on those homes exceeds its market value by at least 25 percent” (San Francisco Business Times. Areas with the most homes “underwater” include: Baton Rouge (21 percent), Toledo (20 percent), Scranton (20 percent), Youngstown, Ohio (19 percent), and New Orleans (19 percent).

Continued job creation that are well-paying is generally considered a prime reason for the Bay Area boom.

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Filed Under: Homeowners Tagged With: equity

Home Equity Increasing, So Is Housing Wealth

April 28, 2016 By Geoffrey Disch Leave a Comment

Real Estate Growth

While the recession and housing slump saw wealth decreased by $7 trillion between 2006 and 2009, the value of homeowners’ real estate equity has more than doubled since 2009 according to a recent Federal Reserve report.

Moreover, housing wealth is proving to be a nice counter-balance against recent stock-market volatility as home equity has increased by 22 percent compared with a 11 percent gain in the Standard & Poor’s 500 Index.

The number of homeowners with at least 20 percent equity continues to rise at a rapid pace and analysts predict that housing wealth could reach a new high as early as the second quarter of this year.

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Filed Under: Homeowners Tagged With: equity, housing wealth

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Our clients say...

“I’ve been in this industry for over 20 years. I have seen both fantastic and just “ok” escrow officers. The Escrow Officer and her team are typically the last stop for a borrower during the purchase or refinance transaction. You want that person and team to be personable, professional and helpful to your client. Kathy and her team at Green Escrow has surpassed my expectations. The team has gone the extra mile to ensure my file closed on time and without incident. I’m looking forward to continued success with Green Escrow.””
by Adina Erridge, Bay Equities Home Loans

2010 Crow Canyon Place
Suite 212
San Ramon, CA 94583
Office: (925) 523-3232
Fax: (925) 523-3231

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