By Mary Shanklin
Local lawyers and real-estate agents say what’s happening is obvious: After years of slumping business, things have picked up now that home values have improved.
Stan Humphries, chief economist for a Seattle-based real-estate-research firm, says a decrease in the percentage of underwater homes has allowed more homeowners to sell at a profit, so they can finally relocate to other parts of the country, and has allowed more couples to make marital decisions without worrying about a distress sale ruining their credit.
“They can now sell, liquidate their assets and go their separate ways,” says Humphries, who was in Orlando this week meeting with groups of real-estate agents.
The number of “underwater” homes — properties worth less than their mortgage balance — has declined in four-county Metro Orlando from 54 percent of all mortgaged houses in the fall of 2011 to 41 percent as of July of this year.
Some real-estate agents say the drop in homes with negative equity has spurred their business with both divorcing couples and divorcees.
Orlando real-estate agent Robert Tenaglia says he was recently at a REALTOR® function when an agent commented to a small group: If it wasn’t for divorce, I’d have no business now.
Copyright© 2015 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.
Content on this website is copyrighted and may not be redistributed without express written permission from RISMedia. Access to RISMedia archives and thousands of articles like this, as well as consumer real estate videos, are available through RISMedia's REsource Licensed Content Solutions. Offering the industry’s most comprehensive and affordable content packages. Click here to learn more! http://resource.rismedia.com