9 reasons to be optimistic about housing in 2012

9 reasons to be optimistic about housing

Plenty of good news has been coming in about housing lately. Here's a round-up.

http://www.housingzone.com/industry-data-research/9-reasons-be-optimistic-about-housing

Western New York Real Estate Market Still Healthy

Three New York State housing markets home to lowest amount of 

underwater mortgages in nation

12/1/2011

According to 24/7 Wall St., only 3.41 percent of the Rochester, NY market’s mortgages are
underwater, making it the market with the fewest underwater mortgages in the nation.  The
Albany-Schenectady-Troy, NY market ranked number three with only 4 percent of its home
mortgages underwater, and the Buffalo-Niagara Falls, NY market ranked number four with
4.22 percent.

Underwater mortgage refers to mortgages that are worth more than the actual value of the home.
According to 24/7 Wall St., the reason for the relatively low percentage of underwater mortgages
in these areas is that home values remained stable during the housing crisis and relatively few
risky mortgages were taken out on new homes.

The metropolitan area with the highest percentage of underwater mortgages in the country is the
Las Vegas-Paradise, NV market where 63.96 percent of homes are underwater.

To read the entire 24/7 Wall St. article, click here.