As Bryan Ellis Real Estate Letter from last month indicates the amount of homes who are underwater those being borrowers who owe more than the home is worth is dropping nationwide and has fallen to just 22.5%. The amount however is higher in some markets that had substantial spikes followed by plunges in values of properties. The top three states include Nevada with 67% of all homes worth less than the mortgages on them while the figure is 49% in Arizona and 46% in Florida. The market is recovering though as some of these buyers exist and it is or soon will be providing some excellent values for people to be re entering those markets.
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